Statistical accounting

The Statistical Accounts feature, part of the Advanced Financial module, enables the tracking of non-monetary data which can then be used on reports and income statements. Its relationship with the financial activity can be examined.

Users who would find this feature valuable include those responsible for accounting maintenance and period close activities, journal entries, cost and revenue allocation, and financial reporting using ratios such as EPS (Earnings per Share). Statistical journal entries can be made manually or auto generate them through a saved search run by a statistical schedule.

Users who manually make statistical journals can also record an absolute statistical balance in lieu of tracking detailed changes. This is valuable for those users who capture periodic reports on statistical non-monetary data.

Example

You receive a monthly report from your Operations Department that provides the square footage of office space used by each department in your organization. Rather than track the periodic differences in used office space, you enter the absolute value that overwrites all previous values. The absolute value is then available to you through reporting.

If the Dynamic Allocation feature is enabled, users can assign any statistical account to an allocation schedule. The weight for the allocation, based on the balance of the statistical account through statistical journals, is dynamically calculated at the time the allocation journal is generated. This is useful in advanced costing such as Activity Based Costing and Usage Based Costing, and when you are running cost centres and profit centres. Users can also use an absolute value in dynamic allocation schedules.

To run multiple dynamic allocation schedules in a specific sequence, users can create allocation batches. Commonly referred to as the step-down allocation method in cost accounting, users define the sequence where the result of the first allocation is the source pool of the second allocation and so on. Users can include up to ten allocation schedules in a batch.

There are several methods that can be employed to monitor the balance of a statistical account.

  • From the chart of accounts, a specific statistical account register can be viewed.
  • From the saved search assigned to a statistical schedule, the details of each statistical journal associated with that schedule can be accessed.
  • Statistical journal entries can be searched for.
  • The Income Statement can be customized to include statistical account data, and its relationship with the financial data examined.

Budgets for Statistical Accounts

From version 2014 version 1 NetSuite supported a new type of account, a statistical account, that can track non-monetary amounts such as headcount, volume sold, floor space (i.e., square footage) and shares.

In Version 2015 Release 1 support for budgets for these statistical accounts is added. Budgets can be created for departments, classes, locations, items, customers, and projects.

Example

A budget for the headcount statistical account can specify the number of new employee requisitions for the Sales Department in the upcoming financial year. The budgeted amount can be compared with the number of new employees by customizing the Budget vs. Actual report.