PLR - Profit and Loss Report
What is PLR
PLR is the procedure that is used for the standard ITAS designed profit and loss reports. These reports are produced using the grouping criteria of the Nominal Ledger with their posted values. Only accounts that have been setup with a type = P&L in the Nominal/General Ledger Maintenance program (NOM) and have accounting entries will be reported. Currency conversions and other filtering processes are handled as part of the report customisation features available. You can produce individual currency reports as well as consolidated to a user selected target currency. There are several fixed styles and user designed reports (ex NOM) which can be selected from the style selection prompt. There is a feature for viewing budget values with the summary styles. If Departmental Budgets have been specified for the company, they can be viewed using a specific PLR report style. When the ‘Single Currency’ processes have been activated for a company, the option to report using the equivalence values is available.
How to use
Departmental PLR can be produced with their own filtering, the detail/summary options determine the grouping presentation and there are the standard output media options, including Excel.
It is important to remember that the formal period-end reports must use the specially frozen exchange rates, (see Spot/Period selection on right-hand-side of selection page).
Note that ITAS operates with a 13th period for the purpose of completing the year-end with final audit adjustments. This removes the need to keep the 12th period open longer than the standard fiscal period closure process. The 13th period is opened automatically when the 12th period is closed (MEPACT).
The 13th period is known as ADJnn (where nn is the fiscal year). The year-end exchange rates are the period 12 rates, so it is very important to freeze those rates correctly using GF company/FXR. Remember that for year end PLR, to select ADJnn as the cutoff period and not the 12th period, else the postings in the 13th period will be excluded.
The budget reporting relies on clean budget values being maintained in NOM. A problem/situation can arise if budgets are set up for a NOM grouping account with budgets also set up for any of the accounts that are included in that group. The problem arises if a summary level is selected which looses the identity of the sub accounts in which case their budget amounts are merged with the grouping account.