Overview

Required plan

The Liability Balances Report provides crucial insights into the fluctuations in contract liabilities over a specific time period. This guide will explain the steps to extract and interpret the liability report effectively.

Guide

Accessing and configuring the report

To access and configure the Liability Balances Report:

1. Navigate to the Report:

   • Go to Reports and select Liability Balances from the menu.

2. Configure the Report:

   • Click on the Mapper icon to open a dialogue box.
   • In the Search/Pin & Results column, select the attributes you wish to include in the report.
   • Click Save to confirm your selections.

3. Run the Report:

   • Enter any search criteria in the provided fields, or leave them blank to include all data.
   • Click the Run button to generate the report, which will then be displayed on your screen.

Report columns

• Beginning Balance: Represents the carryover balance of each contract from the end of the previous period, indicating the remaining liability or revenue yet to be recognized.

• New Billing: Details any new charges or financial adjustments applied to the account during the current reporting period, reflecting recent transaction activities.

• Scheduled: Shows the total revenue that is scheduled for recognition within the current period based on the contract terms and accounting guidelines, aligning with recognized revenue practices.

• Reversal: Captures any reversals of previously recognized revenue due to adjustments or cancellations that occurred during the reporting period.

• Hold: Lists any revenue amounts that are temporarily withheld from recognition or accounting, typically due to pending clarifications or disputes.

• Accounted: Reflects the amount of revenue that has been formally recorded in the general ledger system during the selected period, indicating completed accounting entries.

• Unaccounted: Indicates revenue that has been scheduled or billed but not yet accounted for in the general ledger, highlighting pending financial activities.

• Ending Balance: Calculated by taking the Beginning Balance, adding any New Billing, and subtracting the Scheduled recognized revenue, providing a snapshot of the current liability status at the end of the period.

• Ledger Balance: Shows the final tally for each line item as recorded in the actual ledger, offering a definitive record of financial standings for audit and review purposes.

These columns collectively provide a comprehensive view of the financial movements and status of liabilities within the reporting period, crucial for accurate financial management and reporting.

Invoice origin data

Invoice origin refers to the starting point or the reason why an invoice was created. It helps identify what triggered the invoice in a company's system.

Configuring invoice origin reports

1. Access Invoice Origins: Navigate to the Liability Balance report and look for the Invoice Origin option. If you don’t immediately see it in the main list of checkboxes, open the mapper tool. Make sure to check the Invoice Origin box for both the search criteria and the results display to ensure it's included in your report analysis.
2. Generate the Report: Click the Run button to process your request.
3. View Results: The report will now display data pivoted specifically by invoice origin, offering detailed insights into different transaction types.

Invoice origin types

• Purchase, Add-On, Renewals: Represents the core revenue-generating contracts of the company, including initial purchases, additional services, and subscription renewals.
• Credit, Write-Off, Refunds: These categories are linked to financial adjustments and returns processed for customers, reflecting changes in revenue recognition.
• Immediate Change: This origin is associated with mid-period contract modifications that may affect the financial standing or service terms.
• Gift Card: Tracks the issuance of gift cards within the reporting period, marking their impact on financial metrics and customer engagement.

By following these streamlined steps, you can effectively generate and analyze the liability balances report, adjusting the displayed data according to your specific needs.