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Statements - Carry Forward Financial Statements

This article is intended for: Editors

Use this article for: learning how to carry forward statements. 

Note: You can click on any image below to zoom in. 

 

Maybe this is your second year building statements, and you are looking for a quick way to carry forward and update the prior year’s statement. Look no further—you are in the right place to walk through the carrying forward and updating of statements. 

Carry Forward Financial Statements

Let’s walk through that process of carrying forward statements. 

  1. Navigate to the Statements tool in the navigation sidebar. 
  2. Select the checkboxes next to the statements you want to carry forward. 
  3. Next, select the Bulk Actions button.
  4. Then select the Carry Forward option from the dropdown menu. 

  1. In Step 1: Statements Connections of the Statements Carry Forward modal, verify the selected statements to automatically update statement descriptions, financial versions, and cross-statement links. At this point, you can opt to keep the statements that align with your vision and let go of the others.
  2. Select the Next: Data Shift button to move to Step 2.

  1.  In Step 2: Data Shift, choose the year(s) you want to shift your data up or down by from the existing fiscal year. 
  2. The new statements will automatically adjust the naming convention and the financial data version. Feel free to change the naming convention or financial data version at this time. 

Notes: 

  • If you have not updated your preferred fiscal year of data before carrying forward, you may want to make a data request at this point. 
  • If you made any adjustments to your statement in the current fiscal year, you can select the checkbox to Include Adjustments. 
  1. Lastly, select the End Carry Forward button. You will now be able to see the new carry-forward statements within your statement dashboards. 

Next Steps

Now that you have carried forward your statement, what should you do? 

  1. Review the statement. 
  2. If needed, relabel rows, add or remove rows, and reformat rows. 
  3. If needed, use the existing Dynamic Figures tab in Statement Settings to bulk change versions on several figures at once. Learn more about bulk updating dynamic figures in the Support and Training article: Statements - Financial Statement Settings - Update Dynamic Figures.
  4. Lastly, insert your statement in your financial report document.

Additional Resources 



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