Accommodating Custom Financial Statement Requirements

Preparing financial statements can be a tricky business. The difference between standard accounting report formats, such as balance sheets and income statements, versus unique owner requirements, can be very different as owners tend to like cash flows and not accrual-based systems. And when you throw in the detailed requirements for tax reporting, you may have to provide a completely different format of reporting altogether. How do you accommodate these different requirements?

SKYLINE Property Management and Reporting Software offers a variety of different tools to assist you. First, SKYLINE has the standard financial reporting as part of its core. And, given that these reports are created using a run-time version of Crystal Reports, you are able to manipulate the reports to meet your needs. Using SKYLINE Financial Statements Setup, you can control which columns contain data, such as period data, percentage calculations, account numbers, account descriptions, budget data or previous year data. You also can create a number of different reporting formats, among them standard income statement, cash flow reports, a summary income statement (one-page format), a 12-month rolling cash flow statement, and many more, all using the chart of accounts as the building block.

Using SKYLINE, your reports can also be exported to Excel for any final improvements. With the ability to change a report on the fly to reflect previous periods and budgets, you don't need to write additional reports to cover a specific report for a specific period. Furthermore, using SKYLINE Portfolio Consolidation, you can further consolidate your companies and base them on the actual ownership percentages.

SKYLINE CUMULUS is an additional reporting tool that offers the ability to write any financial statement in Excel. You can report in any order based on your existing account structure. Accounts can be summarized, balances can be checked and verified and graphs can be produced with the data. SKYLINE CUMULUS provides you with access to any general ledger information, allows you to drill down into the data, import and export budgets, and also lets you access property management data.

With the reporting tools SKYLINE provides, you can handle any reporting requirements – whether you need accounting reporting, owner reporting or tax- based reporting, SKYLINE Software is designed to meet all of your reporting requirements.

For information on SKYLINE Property Management Software, please contact Mark Ziemba at 312-443-7531 or or download a brochure that highlights the features and benefits of SKYLINE.

By: Manglos & Associates
A California-based preferred SKYLINE partner.