Out of the box - Balance Sheet and Income Statement

(5) Share

Report

Posted on by MH-06060002-0

Hello all,

When moving customers over from quickbooks to BC on of the areas that proves difficult is in the area of Financial Reporting.

Question - Is there an out of the box BC Report that is 1) Balance Sheet 2) Income Statement That is not dependent on maintaining G/L Categories, and not dependent on ensuring the M-Balance or M-Income reports are up to date with the lates Chart of Account changes?

Thanks so much!

Categories:

Dynamics 365 Business Central

I have the same question (0)

All responses (5)

Answers (1)

Suggested answer

YUN ZHU 92,487 Super User 2025 Season 2 on at

Like (0)

Report

Out of the box - Balance Sheet and Income Statement

Then you can only try Power BI reports.

https://learn.microsoft.com/en-us/dynamics365/business-central/finance-powerbi-app?wt.mc_id=DX-MVP-5004336

Or consider customizing it, or make it yourself using the Financial Reports feature, but this is similar to M-Balance or M-Income.

Hope this can give you some hints.

Thanks.

ZHU

2 people found this reply helpful.

Was this reply helpful? Yes No
Verified answer

Sumit Singh 6,818 on at

Like (2)

Report

Out of the box - Balance Sheet and Income Statement

Hi,
As per my knowledge, my answer is no. In Business Central the out‑of‑the‑box Balance Sheet and Income Statement are driven by the Financial Reporting feature and are based on G/L Account Categories. There isn’t a built‑in BS/IS that avoids both category mapping and schedule maintenance
Please mark it “Verified” if it helps.

2 people found this reply helpful.

Was this reply helpful? Yes No
Suggested answer

Valentin Castravet 29,554 Super User 2025 Season 2 on at

Like (2)

Report

Out of the box - Balance Sheet and Income Statement

As mentioned it isn’t possible without G/L Categories. The system needs them to classify accounts for financial statements. Without them, you only know if an account is income statement or balance sheet, and whether it is asset, liability, equity, expense, income, or COGS. That would be the deepest grouping available, and the system does not produce statements at just that level. If you want to simplify your process, you can create just those six categories as G/L Categories and assign each G/L account a matching category and subcategory to speed up setup.

Valentin Castravet
Work: Zander ERP Services
Blog: Dynamics 365 Business Central Insights
LinkedIn: www.linkedin.com/in/valentin-c-0500a247/

Was this reply helpful? Yes No
Suggested answer

RockwithNav 8,303 Super User 2025 Season 2 on at

Like (1)

Report

Out of the box - Balance Sheet and Income Statement

At first glance, the question seems quite valid — why don’t we have the Income Statement and Balance Sheet as standard reports like other reports in Business Central? However, once you dive a bit deeper into the finance side, you’ll realize that the Income Statement and Balance Sheet are entirely driven by G/L accounts. The system needs to clearly understand your account categories in order to classify them correctly and present accurate balances. That’s where the account categories come into play, allowing these reports to be generated easily with just a click of a button.

Blog - rockwithnav.wordpress.com/
Twitter - https://twitter.com/RockwithNav
Facebook - https://facebook.com/rockwithnav/

Was this reply helpful? Yes No
Suggested answer

Gregory Mavrogeorgis 254 on at

Like (1)

Report
Out of the box - Balance Sheet and Income Statement

Hi,

Bottom line: Nope. Business Central doesn’t have a truly “set-and-forget” GAAP Balance Sheet or P&L that ignores G/L Categories and never needs M-Balance/M-Income tweaks.
What actually works (least hassle):

Make G/L Account Categories your single source of truth.

When the Chart of Accounts changes, run G/L Account Categories → Generate Account Schedules. That refreshes M-Balance/M-Income for you.

Use the built-ins: Balance Sheet and Income Statement (via Tell me). They follow standard GAAP layout, driven by your categories.

Reality check (dependencies):

Any new G/L account needs a category. If you don’t map it, it won’t roll up right.

If you skip categories and hardcode ranges in rows, you’ll be fixing rows every time the COA shifts.

Where you’ll still touch things:

Custom subtotals or special groupings = one-time tweaks (categories or a few rows).

A quick monthly habit: confirm no unmapped accounts, then run the generator.

If you want closer to zero-maintenance:

Keep categories tight + bake the generator into month-end.

Or use Excel / Power BI / Jet for a fixed GAAP-looking layout that just refreshes numbers (you’ll still need categories or a numbering rule so new accounts land in the right bucket).

If you found this helpful please mark it as verified

1 people found this reply helpful.

Was this reply helpful? Yes No