Income Statement Modification

Income Statement Modification: used to create a row in the income statement and make a formula for that row. 

Once you enable "Apply income statement modifications", total income in reports will be recalculated according to the rows and formulas you define in this setting. So you need to create at least 1 data row in this setting.

Reset Income Statement Modification:  It will delete all data income statement modification and recreate based on income account list.

Apply income statement modifications: 

·         If enabled, activated rows will be displayed in the report.

1. Management

We have default accounts of Income type 

2. Create 

·         Step 1. Go to Settings menu under Accounting module from the left sidebar

·         Step 2. Click the Income Statement Modification menu 

·         Step 3. Click Add button 

In the Income Statement Modification page, fill in the following details: 

1.     Enter the Name of the income statement row 

2.     Select a type: Income or Net Income

Formula: Income A = Billable Expense Income + Sales +  Uncategorised Income.

Reports affected: 

·         Balance Sheet Comparison

·         Balance Sheet Detail

·         Balance Sheet Summary

·         Balance Sheet

·         Statement of Cash Flows

·         Profit and Loss

·         Profit and Loss comparison

·         Profit and Loss year-to-date comparison

·         Profit and Loss trailing 12 months

·         Profit and Loss as % of total income

3. Enable/Disable row

When enabling/disabled a line, it affects the data of reports
Enable Apply income statement modifications and row so it shows up on the report.

4. Edit

To edit a row: 

·          Step 1. Go to Settings menu under Accounting module from the left sidebar

·         Step 2. Click the Income Statement Modification menu 

·         Step 3. Hover over the row that you wish to edit and click Edit