Financial Statements

Financial Statements (Statements in the sidebar) is where the club’s formal reports live — the Statement of Activities (the P&L) and the Balance Sheet — built directly from the general ledger. It is separate from Reports, which answers operational questions (“what did the bar sell last week”). This screen answers the questions a board or an auditor asks.

Statements are layouts, not data. Each one is a saved definition describing which accounts appear, in what order, under which headings, with which columns. Running it renders that layout against a period. Change the period and you get the same statement for a different month; change the layout and every past period re-renders the new way. Nothing is frozen in a stored copy.

The two built-in statements

Click Seed built-ins on a new club to create both:

Statement	What it shows
USFRC Statement of Activities (P&L)	Revenue and expense for the period, in Uniform System of Financial Reporting for Clubs order
USFRC Balance Sheet	Assets, liabilities and equity as of the period end

They follow USFRC — the club industry’s standard chart-of-accounts and reporting layout — so the numbers line up with what a club CPA, a board finance committee, and industry benchmarking surveys expect to see. That is the reason to start from these rather than building your own from scratch.

Seeding is safe to run more than once; it will not duplicate statements that already exist.

Choosing the period

Pick a statement from the list, then use the Period month picker; the statement runs for that month. It opens on the current month, which is still moving until you close it — for board reporting, pick the last month you have closed, so the number you hand over does not change tomorrow.

If you are producing month-end reporting, close the period in Accounting first, then run the statements. See Accounting for the close process.

Periods that do not align to a month (a season, a fiscal quarter, year-to-date through a specific day), and a “last closed period” default, are supported by the statements API for your accountant’s tools but are not on this screen yet.

Reading a statement

Rows come in a few kinds, and knowing which is which explains why a number is where it is:

Row kind	Meaning
Header	A section title — “Operating Revenue”, “Administrative & General”
Accounts	One or more GL accounts; the row shows their combined balance
Subtotal	Sums the account rows above it within the section
Computed	A formula over other rows — a margin, a total of totals
Spacer	Blank line, for readability only

Columns are also typed, which is how a statement shows more than one figure per row:

Column kind	Shows
Period actual	The selected period
Prior period	The equivalent period before it, for comparison
YTD actual	Year to date, respecting the club’s fiscal year start month
Budget	The budgeted figure for the period, from Accounting > Budget. If no budget is loaded, the statement says so and Budget shows 0.00
Variance	Actual minus budget (positive = above budget)

A club whose fiscal year does not start in January will see YTD respect that — the fiscal year start month is a club setting, not an assumption.

Building or changing a statement

New Statement creates a definition: give it a name and a type (P&L, Balance Sheet or Custom). Edit layout opens an existing one.

The layout editor is a structured text (JSON) editor with two boxes — Rows (kind, label, account selector, tag, formula, indent, bold, rule) and Columns (kind, label, tag, period offset, basis, formula). In it you can:

• add header, account, subtotal, computed and spacer rows, in the order they should appear;
• attach one or more GL accounts to an account row via its account selector;
• indent rows to show hierarchy, and bold rows that should stand out;
• hide a row so it contributes to subtotals without appearing on the page — useful for clearing or suspense accounts that should net into a section but never be shown to a board;
• add, remove and re-order columns.

The editor refuses to save text that is not valid JSON. It is a power-user tool; if you are unsure, ask your accountant or ClubCore support to make the change.

Two habits worth keeping:

• Every account should land somewhere. An account that belongs to no row is silently absent from the statement, and the statement will still foot — it will simply be wrong by that account’s balance. Check new accounts against your layouts after adding them in Accounting.
• Edit the built-ins by copying them (paste their Rows and Columns into a New Statement), not in place, if you want a club-specific variation. Keeping the USFRC originals intact means you can always produce a standards-conformant statement for an auditor or a benchmarking survey.

Exporting

Any statement exports as PDF, CSV or Excel (XLSX) for the period on screen. The Excel export keeps the row hierarchy, indentation and bolding, so it is the one to send to a CPA; the PDF is ready to drop into a board packet. CSV is the better choice if the numbers are going into another system.

Who can see this

Financial Statements is in the sidebar for accounting-capable roles — administrators, the Accounting role, and an outside firm bookkeeper account where the club uses one. It is not visible to general staff. If a bookkeeper reports that the module is missing, check their role rather than the module settings.

Troubleshooting

A section total looks wrong. Usually a new GL account that is not attached to any row in this layout, or one attached to two rows and counted twice. Open Edit layout and check the account selector on the rows either side of the wrong total.

“This statement is incomplete” / the Balance Sheet does not balance. Most often an account with activity is on no line of the layout. The warning names it. The built-in USFRC Balance Sheet has an Other Liabilities and an Other Equity line that catch any account whose Sub-Type is blank or not one the layout uses, so this usually means a customised layout lost a row. Either add the account to a row (Edit layout) or give it a Sub-Type the layout uses (current_asset, fixed_asset, current_liability, long_term_liability, members_capital, retained_surplus). Sub-Types match regardless of case, spaces or dashes. If no account is listed and it still does not foot, check the Trial Balance in Accounting.

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This page mirrors the ClubCore in-product manual. Club staff get the same content inside ClubCore itself — searchable, and on the ? button of every screen.