DAX Formula for Creating a Balance Sheet Data Set

In this document, a DAX formula is provided to create a dataset for a balance sheet by aggregating relevant financial elements. The focus is to ensure clarity and understanding of how to implement this in a practical scenario.

Objective

The goal is to produce a dataset that summarizes the balance sheet components, such as assets, liabilities, and equity from a given financial table.

Example Data Model

Assume the presence of a table named Financials with the following columns:

• AccountType (e.g., 'Asset', 'Liability', 'Equity')
• AccountName (e.g., 'Cash', 'Accounts Payable', 'Retained Earnings')
• Amount (numeric value representing the financial amounts)

DAX Formula

The following DAX formula creates a balance sheet visualization by aggregating amounts categorized by account type.

BalanceSheet = 
SUMMARIZE(
    Financials,
    Financials[AccountType],
    "Total Amount", SUM(Financials[Amount])
)

Explanation of the Formula

• SUMMARIZE Function:

  • This function creates a summary table based on the provided table (Financials).
  • It groups the data by the AccountType.

• Grouping by AccountType:

  • The first argument specifies the column to group, which is Financials[AccountType].

• Calculating Total Amount:

  • A new column named "Total Amount" is created.
  • The SUM function computes the total of the Amount column for each type of account.

Practical Illustration

Assuming the Financials table contains the following data:

Executing the above DAX formula will produce the following summarized table:

This resulting dataset can serve as the foundational structure for visualizing a balance sheet.

Conclusion

The DAX formula presented effectively aggregates financial data to generate a balance sheet summary. Users can modify the formula as needed to match their specific dataset or additional requirements. For deeper understanding of DAX and practical applications, consider exploring the course offerings on the Enterprise DNA platform.