Steps: Process Average Daily Balance
Set up rules and the process for calculating the average daily balance for the time
period or date range.
Average Daily Balance doesn't support
detailed payroll journals, and only supports summarized payroll journals when
configured.
- You can create rules that calculate the average daily balance by:
- Ledger.
- Ledger account summaries.
- Worktags.
Example: Set up rules that use asset and liability accounts or ledger account summaries to generate regulatory reports. - Process average daily balances and set up the average daily balance process frequency. You can run ad hoc processes or schedule processes to run:
- Daily.
- On a selected date.
- For a predefined journal date over a specified date range.
- (Optional) Create custom reports.
Run average daily balance processes according to your schedule.
Use the Report Writer to define custom reports that:
- Provide a month end average daily balance of cash, by fund, for allocating monthly investment income to funds.
- Compare average daily balances for a selected account, worktag, or book combination.
- Calculate product profitability.
- Display differences between actual ledger by date and average daily balance in transaction currency.
- Display a balance sheet in actual ledger balances and average daily balance, within the same report.