Summarize G/L For Financial Statements

Before printing your Financial Statements, each account must be summarized.
This summarize utility can be initiated from Financial Statements sub-menu on the G/L menu, for the specified time period to be summarized.

The account totals are summarized and stored in a temporary file so that Financial Statements can be easily produced for that period.
(The summarized account total values are held until Summarize G/L For Financial Statements is re-run again.)

Note: Each time a new account is added to the Chart of Accounts, the Statement Layouts need to be updated so the new account is reflected on the appropriate layout too.

Multiple copies of the various Financial Statements can be printed without re-summarizing the GL.
Reports that are generated from these summarized totals include:

If adjustments are made to the G/L in the summarized period, the G/L accounts can be re-summarized quickly again for that same time period, just adding in the additional records into the same date range.
When the date range is changed to a new time frame, the summarize process is more lengthy as all the records need to be re-summarized.

The prompts are:

YEAR START DATE

Enter the beginning of your Fiscal Year.

Note: Many other reports and inquiries also use the Year Start and Period Start/End Dates defined the last time the G/L was summarized, as their default dates.

PERIOD START DATE

Enter the beginning of the month.

PERIOD END DATE

Enter the end of the month.

ROUND TO NEAREST DOLLAR

Uncheck this use the exact dollar amounts.
Uncheck this box to round the dollar amounts to the nearest dollar.

Finished?

Click ACCEPT to proceed with the summarize process or CANCEL to abort.

When the summarization is finished, the program automatically exits and the Balance Sheet and the Income Statements can be printed.

Consolidating Summarized Totals for Multiple Companies:
Once the summarization of the General Ledger is completed, the totals of companies identified as "child" companies can be consolidated with the summarized totals of a "parent" company for the purpose of financial management reporting.
This feature is only available to companies running in the same instance of Oracle.
Refer to Consolidate Summarized G/L Trx for information about this feature.