Written by Nils R. | Aug 30, 2021 7:00:00 AM
What is
a
Balance Sheet Report for Credit Union Branches
? Branch-level Balance Sheets are considered essential month-end reports and are used by corporate executives and branch managers to track actual balances and variances for assets, liabilities and equity figures. Some of the main functionality in this type of report is that it enables the user, based on security access rights, to run them for any month and any credit union branch, including at the consolidated level. The columns compare the current month to the same period last year as well as to the budget, and it calculates the variances. You find an example of this type of report below.
Purpose of
Branch-level Balance Sheets Credit Unions use Branch-level Balance Sheets to enable variance analysis for balance sheet metrics. When used as part of good business practices in Financial Planning & Analysis (FP&A) departments, a company can improve its fiscal- and strategic decisions, and it can reduce the chances that managers don't quickly discover major variances and the reasons behind them.
Example of a
Branch-level Balance Sheet Here is an example of a Branch-level Balance Sheet Report with prior year and budget variances. [caption id="" align="alignnone" width="2560"]
Example of a Balance Sheet Report for credit union branches[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Report
? The typical users of this type of report are: Executives, branch managers, finance leaders.
Other Reports Often Used in Conjunction with
Branch-level Balance Sheets Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Branch-level Balance Sheets, along with income statements, consolidated balance sheets, cash flow statements, trended financial statements, KPI reports, executive dashboards, budget models and forecasts and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
