Accounting General

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Create an Income Statement

Create an Income Statement

1. Got to Accounting > Admin > Income Statement Designer and click the ADD button on the Custom Income Statement form that opens
2. On the header tab, enter a Title and Comments (if desired), and check the Public Flag checkbox if you want the new Income Statement to be public
3. On the Design tab, add a Header by typing a Header Name in the New Category field and click the “+ Header” button.  The Header will appear in the left window.  Repeat for any Sub Headers needed
4. To add Sub Accounts to a Header, highlight the Header and then select Accounts (Accounts grid) – click the Insert Account button to move the Account under a Header
5. Repeat process (steps 3-4) for as many Headers as necessary
6. Add a Total by typing a Total Title in the New Category field and clicking the “+ Total” button.  Total Details may be clarified in the Details section of the form
7. Define the categories (Headers) that you wish to be included in the Total by highlighting the Total line in the Statement Design grid and selecting Categories from the Categories grid, clicking “+ Add” after highlighting each
8. Repeat steps 3-4 and 6-7 for Expenses and Expense Total respectively
9. Create a Net Profit / Loss Header (step 3)
10. To create a calculation for Net Profit / Loss, highlight this line in the Statement Design grid and in the Categories grid, select each Header / Sub Header and click either the “+ Add” button or the “- Subtract” button depending on whether each should be added to or subtracted from the total i.e. + Income headers – Expense headers
11. Save the form

Note: Headers and Sub Headers may be rearranged by dragging and dropping them

To see your newly created Income Statement, go to Accounting > Reports > Income Statement.  Select a Company, Income Statement, Time Period and any other additional details, and click the Run Report button.  A Print Options window will open, from which you may select how you would like your Income Statement displayed or printed.  Note: Comments entered on the Income Statement form will display on the second line of the printed / displayed Income Statement