GL Balances
The data model includes views for comparing budgeted and actual amounts by period to monitor financial performance, summarizing all accounts in the Trial Balance to ensure balanced accounting equations, and presenting revenue, expenses, and profit in the Income Statement for evaluating financial performance. It incorporates measures for total balance amounts, variances between actual and budgeted figures, percentage variances, debit and credit transactions, budget amounts, and Trial Balance transactions.
Benefits of This Data Model
- Improved Financial Monitoring: The data model enables tracking budgeted and actual amounts across periods to monitor financial performance effectively.
- Balanced Accounting Verification: The model ensures balanced accounting equations by summarizing all accounts in the Trial Balance view.
- Enhanced Financial Analysis: Users can assess the company's financial performance by evaluating revenue, expenses, and profit presented in the Income Statement view.
- Comprehensive Data Insights: The model includes various dimensions and measures such as account details, variance analysis, calendar periods, and project information for a holistic view of financial data.
Key Performance Indicators (KPIs)
- Report Balance: The total balance amount shown in a financial report.
- Report Variance: The difference between the actual and budgeted amounts shown in a financial report.
- Report Variance %: The percentage difference between the actual and budgeted amounts shown in a financial report.
- Balance: The total balance amount recorded in the system.
- Variance: The numerical difference between two amounts.
- Variance %: The percentage difference between two amounts.
- Debit: The amount recorded as an increase in assets or expense transactions.
- Credit: The amount recorded as a decrease in assets or expense transactions.
- Budget: The planned or projected amount for a specific period.
- CR: Abbreviation for Credit.
- DR: Abbreviation for Debit.
- TB Credit: Credit transactions recorded in the Trial Balance.
- TB Debit: Debit transactions recorded in the Trial Balance.
Available Visualisations
| View Name | Description |
|---|---|
| GL Budget vs Actual by Period | Compares budgeted and actual amounts across periods to track financial performance. |
| Trial Balance | Summarizes all accounts to ensure the accounting equation (assets = liabilities + equity) is balanced. |
| Income Statement | Shows revenue, expenses, and profit to assess the company's financial performance over a specific period. |