Statistical Accounts

I think IFS help and online documentation is enough to understand what statistical accounts are used for. Basically - for all postings that should not be presented neither in balance sheet nor in profit and loss statement.

Perhaps time reporting could use statistical accounts, but I think it is not the intention (time reporting is detailed allocation of payroll costs over organisational units like projects, cost centers etc., and usually cost-type accounts should be used for this purpose).

We are using statistical accounts to book bank guarantees and similar off-balance items (using statistical account with opening balances) and as budget accounts (to report budget figures on less detailed level than actual cost account, actuals vs budget comparison is done via accounting structure analysis).

Hi Adam,

Do you have a description on how you use this for bank guarantees? I'm interested in a bit more background how you have designed the functional proces.

Hi Valerie ,

We have used statistical accounts to adjust the parallel currency differences.

E.g.  Balance sheet accounts have a mismatch of $150 (Credit balance is higher than debit) only in parallel currency. (Likely scenario for a company migrated from APP8 - APP10)

In this case we create a journal entry as follows.

                                                            Amount           Amount in Parr/Curr

Dr Asset/Liability Account                0.00                          150

        Cr  Statistics Account                0.00                          -150

With this method the balances between asset and liability accounts will be tallied. Year end balances can be transferred without any issues.

Therefore we can use statistic accounts for any purpose in order to avoid double entries being posted for a Asset, Liability , cost or revenue account.

Hope this would help you to have an idea.

Best Regards,

Shehan Almeida.

Hi, 
for bank guarantees, we are booking guarantees issued (for our customers, to secure advances received and performance promised) and received (from our suppliers) using manual vouchers and statistical accounts. There is no need for specific documentation.

Hi Valerie, 

you’ve pretty much described in your question their main use, the standard IFS template company posts the project time recording in exactly the way you describe using stat accounts.

I also use them to hold non-financial information posting zero value journals to them but with a value in the quantity field. this was I can use this information in my calculations when producing Business Reporter reports for example, if I don’t use full blown HR I might hold headcount by cost centre in a stat accounts opens up a lot of per employee analysis opportunities directly in the GL.

Cheers

John

We are a mining company so we use stats accounts for items such as number of working days, average prices, tons mined, tons milled, grade, recovery, etc. As was stated before - for any data that doesn’t hit the balance sheet or income statement.