Has anyone created a financial report yet. By this I mean when creating a new report choosing "Financial" as the report type. I can't find any documentation on how to use this and how its different from a list report. Does it allow subtracting subtotals, for example. I'd like to create department P&L's and am hoping this is the way to go.
I don't think the Financial Report has the functionality that you may be expecting. The real difference is the formatting. Traditionally Financial Statements are created in black and white, and I think this was an offering that simply saved you the effort of removing header and border colours, and all that stuff.
I have been using the financial report. It is basically a crosstab with pre-formatting. You can still do subtotals and the like but you'll just have to play with it a bit.
Also, financial reports use a lot of list headers and footers...