Balance Sheet

from the Organization Chart to accounts from the Account List.

22.4 and later. If the Use Fund Only flag in the Fund Accounting profile is not checked, the balance sheet is a combination of budget unit and account.

A balance sheet contains two types of records:

The Balance Sheet initial page is the Set Up Balance Sheet page from which you can access additional pages to add balance sheet accounts and display balance sheet transactions.

Menu Path

From the Fund Accounting menu, select Entry and Processing. From the General Ledger menu, select Balance Sheet.

Action Bar

The Action Bar on the Set Up Balance Sheet page displays the following items when you first load the page:

Set Period	Displays the Reset Period page for resetting the accounting period, fiscal year, or transaction date. The information entered applies to all additions made in the Set Balance Sheet page during the current session. For details, refer to Resetting Periods.
Copy	22.4 and later. Displays the Copy Balance Sheet page.

After you perform a search, the following Action Bar items replace the Set Period item.

Set Up Control Accounts

Before changing any account numbers in the Fund Accounting Profile, contact PowerSchool Support for assistance.

The Fund Accounting profile Funds/Accounts tab defines the ranges identifying asset, equity, expenditure, liability, and revenue accounts in the General Ledger. It also specifies accounts within these ranges that serve as controls in balancing ledgers.

The five sets of fields at the bottom of the tab: Assets, Equities, Revenue, Liabilities, and Expenditures, specify the ranges that can be assigned to these types of accounts. For example, to create a liability account, you will have to assign a number within the range specified by the Liabilities fields.

Except for the Disburse Fund and Payroll Fund fields, the other fields identify the control accounts required in a balance sheet.

Following is a list of the control fields, including the ledger, account range, and control type associated with each. The fields are grouped according to the ledgers that affect them and their control types.

You must add these accounts to each fund in your balance sheet.

Add Balance Sheet Records

Creating accounts for your balance sheet is relatively easy. After you confirm or select the year, you only need to complete two fields for each record: Fund and Account. To ensure completeness, we recommend that you create all balance sheet accounts for one fund, and then proceed to the next fund.

1. Open the Balance Sheet page.
2. If you need to change the fiscal year, click Set Period on the action bar to display the Reset Period page. Refer to Resetting Periods for details.
3. Click Add New. If the Full Account Format option is enabled in the Fund Accounting profile, then skip steps 4 and 5 and proceed to step 6. The Full Account Format option is available in versions 22.4 and later.
4. In the Fund field, select a fund. The fund you select displays for each record you add, until you change it. In versions 22.4 and later, this field is available only if the Use Fund Only option is enabled in the Fund Accounting profile.
5. In the Account Code field, enter an account to associate with the fund.

6. If the Full Account Format option is enabled in the Fund Accounting profile, enter the account number in the full account format. You can also search for the full account number. The title is automatically populated after you enter the account number.

   

   If both Use Fund Only and Full Account Format options are enabled in the Fund Accounting profile, then the Account Number field continues to display and will include two levels, Fund and Account Code separated by the delimiter.

7. Click Accept to add the record to your balance sheet.

8. If the Continuous checkbox is selected, repeat Steps 4-6 for each record you need to add. Otherwise, the Set Up Balance Sheet Accounts page closes when you complete Step 7.

   

   After you enter records for the current fund, move on to the next fund, until you complete all fund-account combinations.
9. Click Back to close the page.

List Balance Sheet Accounts

1. Open the Balance Sheet page.
2. In the Selection Criteria section, enter criteria to identify the records to list, and then click Search. To run an advanced search, click the Advanced Search button.

Besides being able to display the list, you can:

• Display the Transactions page by selecting an account and clicking Accept. This page displays the transactions associated with the selected balance sheet account. For details, refer to the next procedure.
• View an account's period balances by selecting the account and clicking Period Balances. The Period Balances page appears. Click Back to return to the Set Up Balance Sheet page.
• Delete an account by selecting the account, clicking Delete, and then clicking Yes in the confirmation dialog. You cannot delete an account that has any transactions with a dollar value other than zero.
• Generate the Balance Sheet Short Listing report by clicking Print. The report shows the accounts displayed in the Set Up Balance Sheet page. The default file name of the report is balance_list.rpt.

Display Balance Sheet Transactions for a Selected Account

1. Open the Balance Sheet page.
2. In the Search Criteria section, enter criteria to identify the records to list, and then click Search. To run an advanced search, click the Advanced Search button.
3. Select the account, and then click Accept. The Transactions page appears.
4. In the Search Criteria section, enter criteria to identify the records to list, and then click Search.
5. In the List section, select a transaction, and then click Accept to display the Transaction Detail page.

6. If the More Info... item displays on the Action Bar, you can use it to access one of the following pages, based on the transaction type:

   Code	Transaction Type	Page
   17	Add Encumbrance	Purchase Order Information
   18	Change Encumbrance	Purchase Order Information
   19	Journal Entry	Journal Entry Information
   20	Manual/Void Check	Purchase Order Information
   21	Accounts Payable Check	Purchase Order Information
   22	Payroll Transaction	Payroll Transactions

   

   The More Info... item only displays for purchase order transactions generated in Purchasing. It does not display for purchase orders/encumbrances generated in Fund Accounting.

7. If the Approval Status item displays in the Transaction Detail page, you can use it to display an Approval Status page, based on the type of transaction you are viewing.

   

   The Approval Status item only displays for transactions that have gone through the approval process in one of the following options: Batch Budget Adjustments, Batch Budget Transfers, Post Accounts Payable, Batch Accounts Payable, or Standard Payables.
8. When you finish viewing a page, click Back as many times as needed until you return to the desired page.

Export Balance Sheet Transactions for a Selected Account to Excel

PowerSchool ERP 23.10 and later

1. Open the Balance Sheet page.
2. In the Search Criteria section, enter criteria to identify the records to list, and then click Search. To run an advanced search, click the Advanced Search button.
3. Select the account, and then click Accept. The Transactions page appears.
4. In the Search Criteria section, enter criteria to identify the records to list, and then click Search.
5. Click Print. There is no Print dialog. an Excel report is generated. The default file name is BalanceSheetList.xlsx.

Fields and Descriptions

Following are descriptions of the fields in the Set Up Balance Sheet page's display-only List and Totals sections. Some fields also appear in the page's Selection Criteria section.

Selection Criteria Section

Field	Description
Year	Fiscal year that applies to the balance sheet record.
Fund	Fund that applies to the balance sheet account. The fund must be defined in the Organization Chart.
Account	Code identifying the asset, liability, or equity account assigned to the fund, as stored in the Account List.
Account Number	22.4 and later. If the Full Account Format option is enabled in the Fund Accounting profile, enter the full account number based on the format defined in the Fund Accounting profile translation page.
(Ledger) Title	22.4 and later. The Ledger Title may be comprised of the Budget Unit and Account titles but can be edited by a user.
Additional search criteria	Additional search fields may be displayed based on settings in the Fund Accounting profile.

List Section

Some fields are described in the Selection Criteria section. Fields may display in a different order than listed.

Field	Description
Fund	Fund that applies to the balance sheet account. The fund must be defined in the Organization Chart.
Account	Code identifying the asset, liability, or equity account assigned to the fund, as stored in the Account List.
Account Number	22.4 and later. If the Full Account Format option is enabled in the Fund Accounting profile, enter the full account number based on the format defined in the Fund Accounting profile translation page.
(Fund) Title	Title or brief description of the fund.
(Account) Title	Title or brief description of the account.
(Ledger) Title	22.4 and later. The Ledger Title may be comprised of the Budget Unit and Account titles but can be edited by a user.
Debits	Dollar amount of the account's debits. A debit increases the balance of an asset or expenditure account and decreases the balance of a liability or revenue account.
Credits	Dollar amount of the account's credits. A credit decreases the balance of an asset or expenditure account and increases the balance of a liability or revenue account.

Totals Section

The totals must be equal. If a fund is out of balance, contact PowerSchool support for assistance.