How to create statistical accounts in Business Central

Statistical accounts are non-financial accounts that can be used to track operational information. These statistical accounts empower finance departments to examine the relationship between non-monetary data and financial activity to unlock valuable insights. Many businesses require the ability to incorporate statistical accounts into their system but unfortunately, this feature is not included in Dynamics 365 Business Central’s native capabilities. To unlock the functionality required for statistical accounts, organizations can utilize the Statistical Accounts for Business Central add-on. In this post, we will walk you through the process of creating and using statistical accounts in Business Central.

Rand Group developed the Statistical Accounts for Business Central add-on to enable organizations to track non-monetary data such as employee headcount, building square footage, and number of sales representatives and use that information on financial statements.

Statistical Accounts for Business Central includes the following functionality:

• Create statistical General Ledger (G/L) Accounts
• Post statistical entries through a Statistical Journal
• View statistical balances and net changes in the Chart of Accounts
• Drill down on ledger entry detail for statistical accounts
• Easily add statistical information to financial statements

Statistical accounts can be created to track important non-monetary data. In our example, we will create a statistical account to maintain employee headcount for our organization. To create a statistical account, follow the steps below:

1. Search for and select Chart of Accounts
2. Select New to create a new G/L Account
3. In the General section of the G/L Account Card:
   1. Enter the No. and Name
   2. Ensure the Income/Balance field value is set to Balance Sheet and the Account Category field is blank
   3. Enable to Statistical Account option

Now that we have created our statistical account, we will want to establish a beginning balance. To do this, we can post a statistical journal entry. In our example, we will establish that we have 100 employees. To post a statistical journal entry, follow the steps below:

1. Search for and select Statistical Journals
2. In a new line select the Statistical Account and enter the Amount
   In our example we will enter 100 for our headcount
3. Select Post/Print to post the line

If our headcount changes, we can post additional journal entries to update the balance. For example, if we hire 20 additional employees, we can post a statistical entry for 20 employees. Once posted, our Employee Headcount Statistical Account will show 120 employees.

With the Statistical Accounts for Business Central add-on, you will be able to view the balance of your statistical accounts and all the ledger entries for the account.

To view the balance of a statistical account, follow the steps below:

1. 1. Search for Chart of Accounts
   2. Filter for Statistical Accounts
   3. Review the Balance of your statistical account

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To view the ledger entries with the statistical account, follow the steps below:

1. 1. 1. Search for and select Chart of Accounts
      2. Select the statistical account
      3. Select Account >> Ledger Entries
      4. Review the entry created by your journal

Statistical accounts can be added to financial statements such as income statements, balance sheets, and cash flow statements. In this example, we will be editing an income statement to add employee headcount and net income per employee. To incorporate a statistical account into financial statements, follow the steps below:

1. 1. 1. Search for Financial Reports
      2. Select the financial report you wish to edit
      3. Select Edit Row Definition
      4. Add a new line for your statistical account
         We will be adding a line for our Employee Headcount Statistical Account
      5. Add a new line for your statistical account
         We will be adding a line to divide Net Income by our Employee Headcount Statistical Account

Once we have incorporated our statistical account into our financial report, we can run the report. In our example, we will run our updated income report and be able to report on net income per employee.

Statistical accounts provide organizations with additional reporting and key performance indicator (KPI) capability above and beyond what financial and operational data can provide. With Statistical Accounts for Business Central, you start tracking the non-financial data most important to your organization to unlock additional insights that drive better business decisions. To learn more about the Statistical Accounts for Business Central add-on or how to create and use statistical accounts, contact us today.