NPO Financial Reporting for Sage 50

Logicim XLGL is a powerful tool that allows you to create and customize financial Reports using Excel and Sage 50 data. You can use Logicim XLGL to create balance sheets, income statements, cash flow statements, budgets, and more. You can also add custom calculations, group accounts, compare periods, and format your Reports as needed.

In this article, you will learn how to use Logicim XLGL to create and customize a balance sheet. You will also explore some of the features and Functions of Logicim XLGL that can enhance your Reports. If you are using an older version or edition, some steps and formulas may vary.

Before you begin, ensure you have installed Logicim XLGL and connected it to your Sage 50 company data.

Creating an income statement

To create an income statement with Logicim XLGL, follow these steps:

1. Open Excel and click on the Logicim XLGL tab on the ribbon.
2. Click on Reports and Forms, then select Fund Income Statement from the Non-profit organizations section.
3. Click Load to open the income statement template.
4. Click on the Income Statement tab to see the Report.
5. The report will display results for your selected date range by default and will update automatically.
6. Utilize the features in the income statement template to navigate and modify the Report. These include:
7. The layouts panel on the right side of the screen. This panel shows the structure of the Report and the sub-sections that make up the income statement. You can click on any sub-section to jump directly to that part of the Report.
8. The expand and collapse buttons are on the left side of the Report. These buttons allow you to hide and show the details of each sub-section. You can use the plus and minus buttons to expand or collapse individual sub-sections, or the numbers at the top to expand or collapse the entire Report.
9. The account numbers in column B are hidden by default, but you can unhide them by selecting column B and clicking on the Unhide button on the Home tab.

Customizing the income statement

One of the advantages of Logicim XLGL is the ability to customize your Reports to meet your specific needs. You can add columns, rows, formulas, and formatting to your Reports. Below are some examples of how to customize your income statement.

1. Add a column for a percentage of net income. To do this, place the cursor on the first reported account (cell E8) and type the formula =D34/$D$102. This formula divides the total amount of revenue by the total expenses in cell D102. Notice the dollar signs used to set an absolute reference. This means that the cell reference will not change when you copy the formula to other cells. Learn more about absolute and relative references in Excel.
2. Click on the percentage button on the home tab and select the desired format to format the cell as a percentage with two decimals.
3. Copy the formula to the other cells in the column by clicking on the Refresh button on the Logicim XLGL tab. Logicim XLGL will automatically fill out the formula from the first row of each section.
4. Copy the formula to the other sub-sections by selecting the cell with the formula, copying it, and pasting it to the first row of each sub-section. Then, click Refresh to fill out the formula.
5. Add any custom calculations in this way. Remember always to modify the first row of each section and click Refresh to update the Report.
6. Maintain the list of accounts automatically by default in Logicim XLGL. This means that if you add or remove an account in Sage 50, Logicim XLGL will update the list accordingly when you click Refresh. However, you can also change this behaviour and modify the rows manually. To do this, you need to freeze the account numbers and descriptions. This will remove the automatic layout and allow you to insert, delete, or group rows as you like.
7. Freeze a section by selecting the entire range, including columns B and C. On the Logicim XLGL tab, select the Freeze sub-menu, then Freeze Selection. Confirm the operation by clicking Yes. Notice that the section is now gone from the Layouts panel.
8. Make manual modifications to any of the rows once you have frozen the account section. For example, you can insert a row to create a sub-section for cash, insert more rows for the subtotal of the sub-section, and make custom calculations on any part of the Report. Note, however, that Logicim XLGL will no longer automatically add new accounts or fill down formulas. You will have to do this manually.
9. Explore financial reporting with Logicim XLGL. Create and customize an income statement and utilize some of the features and Functions of Logicim XLGL to enhance your Reports. You can utilize Logicim XLGL to create any kind of financial Report needed with Sage 50 data. You can also examine the formulas used in the Reports to understand how they work and how you can modify them.

Click Income Statement by Funds to learn more about efficient comparative income statement customization and deeper insights into income statement generation.