Forum Thread

Accounting Question

roykirk1 735 166 January 29, 2016 at 03:45 PM
Hi

This is not a tech question, but an accounting question. Sorry, not sure where else to ask. Reps for any help you can provide...

Our web site shows currency symbols on first and totals lines. Isn't it standard that the lines in between do not have the symbol?

Period Revenue
1Q $100
2Q 100
3Q 100
4Q 100
------
Total $400

However, I have a request to make the currency "more prominent" by showing the symbol on every line.

Period Revenue
1Q $100
2Q $100
3Q $100
4Q $100
------
Total $400

Which is the correct/accepted display? If the current display is already fine, is there a reference I can show them so they stop asking for this?

Thanks in advance!!

8 Comments

1

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#2
It is common to have currencies displayed all and any ways so there really isn't a standard.

One company's balance sheet/income statement looks different than another. Income statements often have a setup similar to what you are seeing where you basically see the currency symbol at top and bottom.

I guess the real question is why are you not able to get what you want? I can go on and on about why developers wouldn't want to do this if they use this code/platform for others as others may not want that change. If you own and operate a singular site then you can easily get it how you want. If you are just a customer of a much larger platform you need many clients to want the change or option for this feature and this would be considered a low priority change anyway as it does not affect functionality.

Hard to help much more with the limited info you have provided but I'm assuming you are just a small client in a much larger platform. At the end of the day, does this request really bring a difference to the experience? In my opinion, no -- it is a minor cosmetic request and nothing more.

Hope that helps. Maybe that sheds some light on how that process works.
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#3
The webpage is probably template driven and to change your data would change everyone that uses that template. Plus the developer would have to regression test everything to make sure nothing got broken during the change. Sometimes seemingly little things like this have a lot more work behind the scenes.
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#4
I've seen balance sheets with currency symbol at the beginning and the final total; beginning and after each subtotal; as well as at each item, so there isn't a "standard" format. Personally, I like the one with no currency symbol except at the footer laugh out loud
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#5
per older accountant lady friend
she puts it on every line. Then again she still does it on paper.

I personally like at the top and bottom total but hate the offset
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#6
You have not mentioned how your website is created. What software is used? Can you copy & paste formatted MS excel data/forms?
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Original Poster
#7
Hi

Thanks all and reps.

So it seems there is no standard format? And the old format is fine, but the new, requested one is as well?

Background should not matter, but... this site is used by 6 regional partners. Format has been in place for 10 years, the folks who came up with the format are long gone. One of the partners has a new compliance officer, who is asking for this change. He says its for clarity, I think... well, it doesn't matter what I think.

the issue is... either I convince him the change is not necessary (best case scenario) or I convince the other 5 regions to also accept the change. We have variances for branding, but for stuff like this, we want to keep global templates. Also, there are about 40-50 different tables that have currency, so its a lot of change and testing that I personally think is unnecessary.

Also, some of the end users are financial professionals, would hate to make this change only to have them laugh at us, that we are now no longer compliant with accounting standards or whatever.

Sucks.
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#8
Quote from roykirk1 View Post :
One of the partners has a new compliance officer, who is asking for this change. He says its for clarity, I think... well, it doesn't matter what I think.
Yes this is presumably one of those cases where no matter what you do someone will want to skin you alive.

If I were you I would try to find a way to avoid this altogether, pass it on to someone else.

We already know that you are not familiar with any of this. I think you should go the new compliance officer and simply tell him the truth, you are not qualified to do what he wants, tell him that if he wants to send you to school to get training that would be fine with you but his changes will be delayed while you are getting your new training.

From my experience he will be more likely to be willing to pay someone else to make the changes or he may decide to forget the whole thing.

The important thing here is you can't afford to lose any sleep over this.
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#9
Quote from roykirk1 View Post :

Thanks all and reps.
not to pick nits, but when you say reps, is that figuratively speaking laugh out loud
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