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P&L Opening Balance Roll Forward
Who uses Opening Balance Roll Forward Profit & Loss Reports and What are Some Key Analytical Features? In today’s fast-paced business environment, Controllers are under high pressure to supply end users like accountants and reporting managers with timely and concise Reconciliation Reports. Companies use key features like the ones below to support their users with accurate and efficient year end closes that helps drive more better planning and analysis:
- Columns for Prior Year Actual, Prior Year Opening Balance (OBA), Prior Year OBA + Current Period Actual, and Current Year OBA
- Verifies the ending balance of activity for prior year
- Confirms opening that the balance for the current year is zero
A Brief Description of the Opening Balance Roll Forward Profit & Loss Report Template Reconciliation Reports like the one seen in the image above are interactive and parameter driven and typically contain sections with automated reconciliation with comparative columns. One of the important features that aid the user in the analysis process is the ability to use this report along with an Opening Balance Roll Forward Balance Sheet report to verify the retained earnings. Opening Balance Roll Forward Profit & Loss Reports are often used in conjunction with inter-company reconciliation reports, trial balances, profit & loss variance reports, and balance sheets including roll-forward reports.
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 P&L Opening Balance Roll Forward in Solver? The P&L Opening Balance Roll Forward 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.