Accounting General

5:25

Create an Income Statement

Create an Income Statement

1. Got to Accounting Main Menu > Admin > Designer > Income Statement Designer and click the ADD icon
2. On the header tab, enter a Title and Comments (if desired)
3. On the Design tab, open the Add Category icon and click the “+ Header” button.  The Header will appear in the left window.  Repeat for any additional Headers or Sub Headers needed
4. Add Accounts to a Sub Header by highlighting the Sub Header in the left Statement Design grid and then highlighting Accounts in the Accounts grid.  Click the grid ADD icon.
5. Repeat process (steps 3-4) for as many Headers and Sub Headers as necessary
6. To add a Total line, open the Add Category icon and click 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 the grid ADD icon after highlighting each
8. Repeat steps 3-4 and 6-7 for Expenses (i.e. Operating Costs, Salaries, Misc.) and Expense Totals 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 grid ADD icon or the grid SUBTRACT  icon 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 Main Menu > 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