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Balance Sheet with Change by Month
Who uses Balance Sheets with Comparison to Prior Year and Variance Templates and What are Some Key Analytical Features? In today’s fast-paced business environment, Corporate Controllers are under high pressure to supply end users like financial managers with timely and concise Financial Statements. Companies use key features like the ones below to support their users with effective analysis that helps drive in-depth balance sheet analysis:
- Current versus last year comparison with variance indicators
- Dynamic rows where the user can expand any account category to review individual accounts and drill to journal entries
- Parameter-driven where the user can run the report on demand to see various snapshots in time and for different business units
A Brief Description of the Balance Sheet with Comparison to Prior Year and Variances Template Financial Statements like the one seen in the image above are interactive and parameter driven and typically contain sections with presentation quality balance sheet layout ready for viewing. One of the important features that aid the user in the analysis process is the ability to access self-service, web-based variance reports that any user with security rights can run on demand to analyze asset, liability and equity data. Balance Sheet with Comparison to Prior Year and Variances templates are often used in conjunction with balance sheet trend reports, cash flow and profit & loss reports, KPI dashboards and cash flow budget models.
Data Integration to Transaction Systems Most organizations these days want automated and streamlined planning, reporting and analysis. However, many of the benefits described earlier rely on best of breed extended financial planning and analysis (xFP&A) tools and/or Business Intelligence (BI) capabilities as well as data marts or data warehouses that use pre-built integrations to the organization’s ERP system. Oftentimes, they also need integrations to other key data sources like CRM, subscription systems, payroll tools, etc. Modern, cloud-based ERPs like Microsoft Dynamics 365 Finance (D365 Finance), Microsoft Dynamics 365 Business Central (D365 BC), Sage Intacct, Acumatica, Netsuite and SAP have robust APIs which allow for dynamic integrations to xFP&A and BI tools that are fully automated and flexible to run on a schedule or on-demand.
This Solver report template connects directly to your ERP data via the Solver Data Warehouse, enabling near real-time analysis with minimal setup. Designed for QuickStart deployment, it can be activated rapidly so your team can focus on analysis and decisions — not data preparation.
What is the Balance Sheet with Change by Month in Solver? The Balance Sheet with Change by Month is a pre-built xFP&A report template in Solver that delivers key financial and operational metrics in a single, easy-to-use interface, eliminating the need for manual data work or custom report development.
Who uses this Solver report template? Cfos, fp&a managers, and controllers rely on this Solver report template for consistent, parameter-driven reporting that can be run on demand or on a scheduled basis. It eliminates the manual work typically required to produce this type of analysis.
Where does the data come from? Data is sourced automatically from your ERP system through the Solver Data Warehouse, which integrates with platforms such as Microsoft Dynamics 365 Business Central, Dynamics 365 Finance, Acumatica, Sage Intacct, and other leading ERP solutions. Once connected, the template updates in near real-time with no manual data entry required.