The Monthly Balances data is similar to the general ledger data, but calculated in a monthly period. Although the format varies by ERP, this data typically contains monthly period balances for each account, denoting activity occurring solely in that period. It may contain a budget value (often related to budget adjustments) and usually contains an encumbrance and actual/spent value for each month.
In some ERPs, this concept may not exist as a separate table.
Monthly Balances Data Elements
|
Element |
Description |
Example |
|---|---|---|
|
Primary Key |
Unique identifier for each record. Can be a composite key – can also be the account code, period, fiscal year |
|
|
Updated At |
Time stamp of the last time this record was updated. |
|
|
Account Code |
Account Code. |
100-20-345-6789 |
|
Segments |
Code for each account segment/dimension. |
100 | 20 | 345 | 6789 |
|
Actual Amount |
The Monthly Spending in this Account. |
123.45 |
|
Encumbered Amount |
The Monthly Encumbrance activity in this Account. |
12.34 |
|
Fiscal Year |
The Fiscal Year that this entry is to be included in. |
2023 |
|
Period |
The Period (month) when this activity occurred. If this is month or a period value where 1 is the first period of the fiscal year. |
1 |
Monthly Balances Data Validations
-
Unique by primary key.
-
Unique by account code, fiscal year, period.
-
No values are nullable.
-
Aggregating transactions by status, year, and month should result in matching balances.
-
Segments or accounting dimensions exist in the segment data.