Quick Navigation
Jump to Your Preferred Setup Method:
Option 1: CSV Import - Upload existing Balance Sheet structures quickly
Option 2: Industry Standards - Use IFRS and GAAP based templates
Option 3: Manual Creation - Build completely custom structures
Before you begin, make sure you:
Ensure you have a Group already set up in GATHER.nexus
Consider your reporting requirements (GAAP, or industry-specific)
Have your existing chart of accounts structure available for reference
Determine which setup method best suits your organisation's complexity
Getting started
Step 1: Access Balance Sheet templates
From your GATHER.nexus dashboard, navigate to Group Financial Reporting and click the Group Reporting Template tile.
Step 2: Review existing templates
Your templates dashboard shows any existing P&L or Balance Sheet templates. New users will see an empty list ready for creation.
Step 3: Begin Balance Sheet creation
Click the Add GRT button in the top right corner to create your new Balance Sheet template.
Step 4: Select Balance Sheet and choose your method
In the template creation form:
Click the Balance Sheet tab (next to Profit & Loss)
Complete the basic information:
Template Name: Use descriptive names like "Group Balance Sheet", "IFRS Financial Position", or "Monthly BS Report"
Group: Select which entities will use this template
Option 1: CSV Import - Perfect for organisations with existing Balance Sheet Reporting structures who want rapid implementation
Option 2: Industry Standards - Ideal for businesses requiring GAAP, or industry based financial position reporting
Option 3: Manual Creation - Best for complete customisation of balance sheet presentation
Then choose your creation method:
Option 1: CSV Import
Best for: Organisations with existing Balance Sheet Reporting structures who want rapid, accurate implementation
Step-by-step CSV import process
Step 1: Select CSV import option
In the Create New Group Reporting Template form, choose Option 1: Import from CSV.
The CSV import description reads: "Easily import your group reporting template from .csv files"
Step 2: Prepare your Balance Sheet CSV
Download the Sample Template to understand the required CSV format for Balance Sheet accounts
Structure your CSV following the Balance Sheet sample template layout
Include all Balance Sheet categories: Assets (current and non-current), Liabilities (current and non-current), and Equity
Ensure account codes follow standard Balance Sheet numbering conventions
Step 3: Upload your Balance Sheet structure
Use the file upload interface to import your Balance Sheet structure:
Click Browse File to select your CSV file
Drag & Drop your CSV file into the designated area
Verify the filename appears correctly before proceeding
Step 4: Create and import your Balance Sheet
Click Create & Setup to process your CSV and create the Balance Sheet template structure.
Step 5: Confirm successful import
The system displays a confirmation showing how many accounts were successfully imported (for example, "32 accounts have been successfully imported into your new Balance Sheet reporting template").
Option 2: Industry Standards
Best for: Businesses requiring GAAP or industry based financial position reporting
Step-by-step industry standards process
Step 1: Select industry standards option
In the Create New Group Reporting Template form, choose Option 2 for professionally designed templates.
The description reads: "Kindly select one of the industry or GAAP templates provided"
Step 2: Preview example IFRS Balance Sheet structure
Select IFRS and click Preview to examine the comprehensive Balance Sheet structure before selection.
IFRS Balance Sheet Preview includes:
Assets Section: Current and non-current asset classifications
Liabilities Section: Current and non-current liability categorisation
Equity Section: Comprehensive equity structure
Step 3: Select IFRS template
After reviewing the detailed structure, select the IFRS option to proceed with this internationally recognised template.
Step 4: Create with IFRS structure
Click Create & Setup to proceed with your selected IFRS Balance Sheet template structure.
Step 5: Configure IFRS account categories
Your template loads with the IFRS account structure which you may further configure.
Option 3: Manual Creation
Best for: Complete customisation of financial position presentation
Understanding manual creation capabilities
Define your Balance Sheet Chart of Accounts structure from scratch
Create custom asset, liability, and equity categorisation
Build industry-specific financial position hierarchies
Design templates for complex organisational structures
Step-by-step manual creation process
Step 1: Select manual creation option
In the Create New Group Reporting Template form, choose Option 3: I will create Group CoA manually.
The description explains: "Define your Group Chart of Accounts manually to tailor account structures according to your unique organisation needs"
Step 2: Begin with foundational structure
Click Create & Setup to enter the manual configuration interface with a basic Balance Sheet framework that you can fully customise.
Step 3: Build your custom Balance Sheet structure
Start with the foundational structure and expand according to your specific needs:
Default Framework includes:
Assets Section: Basic current and non-current asset categories
Liabilities Section: Essential current and non-current liability groupings
Equity Section: Standard equity account structure
Step 4: Customise account categories
Develop your ideal Balance Sheet presentation using the management tools:
Add (+) - Insert new account lines within any category
View (👁) - Review and edit account details and classifications
Delete (🗑) - Remove unnecessary account lines
Step 5: Create industry-specific categories
Build account structures that reflect your unique business requirements:
Industry-Specific Accounts: Add asset, liability, and equity accounts relevant to your sector
Regional Requirements: Include accounts needed for local regulatory compliance
Management Reporting: Create detailed account breakdowns for internal analysis
Custom Hierarchies: Organise accounts in logical, business-aligned groupings
Common configuration steps (all options)
Managing account visibility
Regardless of your chosen method, use the Show Hidden toggle to control which accounts appear in different report versions:
Create different Balance Sheet versions for various stakeholders
Hide detailed accounts from summary financial position reports
Maintain comprehensive data while presenting focused stakeholder reports
Account management features
All methods provide comprehensive account management tools:
Add (+) - Insert additional account lines within categories
View (👁) - Review and edit account details and classifications
Delete (🗑) - Remove unnecessary accounts from your structure
Finalising template setup
Once you've configured your Balance Sheet template structure using any method, click Update & Map Account to save your complete template configuration.
Template management options
Your completed Balance Sheet template appears with ongoing management capabilities:
Setup Group Accounts - Modify overall template structure and categories
Map accounts now - Configure company-specific account mappings
Best practices by method
CSV Import best practices:
Download Sample Templates: Always examine the Balance Sheet sample before creating your CSV
Follow Standard Numbering: Use conventional Balance Sheet account numbering (Assets 1000-1999, Liabilities 2000-2999, Equity 3000-3999)
Include All Categories: Ensure comprehensive asset, liability, and equity coverage
Test Import Process: Validate CSV format with a subset of accounts before full implementation
Industry Standards best practices:
Preview Thoroughly: Examine IFRS template structure completely before selection
Understand Compliance: Ensure template meets your specific regulatory requirements
Customise Appropriately: Modify templates to accommodate unique business accounts
Stay Current: Monitor updates to international standards and template changes
Manual Creation best practices:
Plan Structure Carefully: Map out desired Balance Sheet hierarchy before building
Follow Accounting Principles: Maintain proper asset, liability, and equity classifications
Design for Flexibility: Create structures that accommodate business growth and changes
Document Decisions: Keep clear records of custom account logic for audit and training
Common questions
Q: Can I create both Profit & Loss and Balance Sheet templates with the same method?
A: Yes, but each template type (P&L vs Balance Sheet) should use the method that best suits its specific requirements and complexity.
Q: How do I handle complex asset classifications in my Balance Sheet template?
A: Use the setup account to create detailed subcategories within major asset classes, or start with manual creation for complete control.
Q: Can I modify industry standard templates after creation?
A: Yes, all templates can be customised in the setup account, regardless of the initial creation method.
Q: What's the best approach for multi-currency Balance Sheet reporting?
A: All template methods support multi-currency reporting. Configure currency handling in your Group settings rather than within the template structure.
What's next?
With your Balance Sheet template created using your preferred method, you can:
Map Chart of accounts with templates accounts across entities within your group for consistent financial position reporting
Generate professional Balance Sheets that meet stakeholder and regulatory requirements
Perform accurate consolidation of financial position across multiple entities
Create integrated reporting by combining with your Profit & Loss templates
Your Balance Sheet template now ensures consistent, professional financial position reporting across your entire organisation, regardless of which creation method you selected.
Have questions or need assistance❓
Contact our support team at support@gather.nexus