PROGRAM ISSUE ** THIS INFORMATION HAS NOT BEEN VERIFIED **

Interest Expense category is not included in Retained Earnings calculation on the Balance Sheet in Sage MAS Intelligence Report Manager.

Entry Type: Program Issue

Product: Sage MAS Intelligence

Application: Report Manager

Version Reported: 4.40

Status:

This issue is being researched by Engineering.

Subject:

Interest Expense category is not included in Retained Earnings calculation on the Balance Sheet in Sage MAS Intelligence Report Manager.

Steps to Duplicate:

In ABC company:

In MAS:

1. Expand General Ledger, Setup and click Account Group Maintenance.
2. Create the following Account Group and click Accept:
• Account Group = 650
• Description = Interest Expense
• Category = Expenses
• Account Type = Interest Expense
3. Expand General Ledger, Setup and click Main Account Maintenance.
4. Create the following Main Account and click Accept:
• Main Account = 650
• Description = Interest Expense
• Account Group = 650
5. Expand General Ledger, Main and click Account Maintenance.
6. Create the following Account and click Accept:
• Account No = 650-00-00
7. Expand General Ledger, Main and click General Journal Entry.
8. Create the following General Journal entry and click Accept:
• Source Journal = JE
• Click Next Journal # button
• Posting Date = 05/31/2010
9. On the Lines tab, enter the following and click Accept:
• Account No = 650-00-00, Debit = 500.00
• Account No = 111-00-00, Credit = 500.00
10. Preview and update the General Journal.

In SMI Report Manager:

1. Expand the Financials folder and run the Financial Report 2-0(MAS).
2. Select the following parameters and click Ok:
• Fiscal Year = 2010
• Budget = ORIGINAL
3. On the Categories sheet, map the following Account Groups:
• CURRENT ASSETS = 20
• PROPERTY, PLANT AND EQUIPMENT = 24
• OTHER ASSETS = 26
• CURRENT LIABILITIES = 28
• LONG TERM DEBT = 32
• EQUITY = 36
• PROVISION FOR INCOME TAXES = 16
• REVENUES = 8
• COST OF SALES = 9
• OPERATING EXPENSES CENTRAL = 12
• OPERATING EXPENSES = 12
• Interest Expense = 14
• GENERAL & ADMINISTRATIVE = 12
• OTHER INCOME & EXPENSE = 13
4. Click on the Menu sheet and run the #10 - Annual Prior / Actual Current Month / Actual YTD Balance Sheet.
5. Click on Add-Ins menu and change to Period 5.
6. Note: The Total Assets and Total Liabilities and Equity in the Current Period Actual column do not match.
7. Click on the Lookup tab, expand to show the RETINC row (Row 7).
8. Note: In each of the "Periods" cells, the formula is missing reference to Category 14 - Interest Expense, see formula below:

=SUMIF($P:$P,"=8",U:U)-SUMIF($P:$P,"=9",U:U)-SUMIF($P:$P,"=10",U:U)-SUMIF($P:$P,"=12",U:U)+SUMIF($P:$P,"=13",U:U)-SUMIF($P:$P,"=15",U:U)-SUMIF($P:$P,"=16",U:U)

Expected Behavior:

Interest Expense category should be included in Retained Earnings calculation.

Possible Workaround:

None