3. Match up PL and BS Dates

Make Sure P&L Agrees With the Balance Sheet

In order to CFO Scoreboard to import a month of data, it has to have the financials for that month from  both the Income Statement and the Balance Sheet. The consequence of this requirement is: whenever you upload a batch of files, the range of months in those files needs to be identical.

Demonstration

Take a look at these files below, and see if you can find the problem:

• Demo PL #3
• Demo BS #3

The error we saw is:    The Income Statement does not contain the same months as the Balance Sheet.

Solution

This is a very easy one. When you opened the files to examine what's going on, you might have noticed that January 2011 was missing from the Income Statement. Resolving this is simple:

1. Since we don't have the P&L data for January 2011, we're going to have to truncate the Balance Sheet so that both documents have the same date range. To do this, simply open the BS and delete the Jan 2011 column. Now both documents should begin in Feb 2011, and both have the same date range.
2. In a real-world scenario, you would probably ask your client to provide the complete January 2011 data so that that month could be imported as well.