The following graph shows each of the Operational Reports that are covered in this article. Review a bit more about each report and when to use it.
Profit and Loss
What it does: This report compares the total income and expenses at specified Locations as of a specific date and based on either their Fiscal or Operational Calendar structures.
Why use it: Users are able to view how all GL Accounts and Account Types have directly impacted the total Net Profit of their company. Data can be restructured and compared against prior year, budget, and more.
Other Considerations: Users can benefit from multiple report types to reassess the data provided.
Learn more about the Profit and Loss here.
GL account Detail
What it does: This report enables Users to view a breakout of all GL Account totals.
Why use it: Users can drill into listed transactions, which are hyperlinked to their transaction record.
Other Considerations: Update this report to display by either Fiscal or Operational Calendar as well as including Stat Accounts and unapproved transactions.
Learn more about the GL Account Detail here.
Balance Sheet
What it does: This report shows the financial position of a company by displaying the balances of all GL Accounts.
Why use it: Report Types can help Users assess company finances in a variety of ways. This report even includes Retained Earnings for the date range selected based on net profit.
Other Considerations: Run this report based on legal entity, Location, periods to date, and more!
Learn more about the Balance Sheet here.
AP Aging
What it does: This report includes all open AP Transactions, including Credit Memos that haven't been applied to an invoice yet, listed within day ranges to show the invoices that are currently due and past due.
Why use it: Get a better understanding of the transactions that still need to be paid and when they are due.
Other Considerations: The transactions on this report are hyperlinked to their transaction in R365 for a quick reference. In addition to this, any imbalanced transactions will be tied to an 'Unassigned Vendor', which pinpoints the invoices that need to be corrected.
Learn more about the AP Aging here.
AR Aging
What it does: This report shows all open AR Transactions listed within day ranges to show the invoices that are currently due and past due.
Why use it: Keep the companies in check and notify them of any outstanding invoices.
Other Considerations: The transactions on this report are hyperlinked to their transaction in R365 for a quick reference.
Learn more about the AR Aging here.
Bank Reconciliation Report
What it does: This report provides a detailed or summary view of cleared and outstanding transactions included on a bank reconciliation.
Why use it: See any outstanding transactions that need attention in order to approve your bank reconciliation.
Other Considerations: It is important to review this before finalizing the Bank Reconciliation. This report will not reflect changes made to any transactions after reconciling.
Learn more about the Bank Reconciliation Report here.
FAQ
What does it mean if a transaction on the AP Aging report shows "Unassigned Vendor"?
Unassigned Vendor is a system-generated placeholder that appears when a transaction is coded directly to the Accounts Payable GL account instead of through an AP Invoice, Payment, or Credit Memo, or when there's a mismatch between the AP beginning balance and imported open invoices at cutover. It shouldn't remain in R365, since any balance tied to it stays on the AP Aging report until corrected. See Unassigned Vendor – Accounts Payable for how to identify and clear each cause.
Why doesn't the Bank Reconciliation Report reflect a change I made to a transaction?
The Bank Reconciliation Report is a snapshot taken at the time of reconciliation, so changes made to a transaction after it's reconciled won't appear on that report. R365 adds a visual cue to reconciled transactions so you can tell whether one has already cleared before editing it. See Bank Reconciliation for how to handle a transaction that needs to change after it's been reconciled.
What's the difference between the Fiscal and Operational Calendar options on these reports?
The Fiscal Calendar follows your organization's accounting periods, while the Operational Calendar aligns reporting periods to full weeks. Which calendar applies depends on the report you're running. See Fiscal and Operational Calendars in Reports for which calendar each report uses by default.
Should I use the Balance Sheet or the Profit and Loss report to check my company's financial health?
Use the Balance Sheet to see your company's financial position, meaning assets, liabilities, and equity, as of a specific date. Use the Profit and Loss to see how income and expenses affected Net Profit over a date range. Most monthly reviews use both together: P&L for performance, Balance Sheet for position. See Profit and Loss and Balance Sheet for full report details.