Introduction: Income Statement (15-24)

Overview

This selection is used to view and print income statements. You can view, in one run, multiple statements or a single statement. Additionally, you can combine the information from two or more statements onto a consolidated income statement.

Setup Instructions

Before creating a consolidated income statement, (using the ‘Consolidate Multiple Income Statements’ option), you must set up consolidation accounts in Chart of Accounts (15-02).

You must use ‘ZZ0000’ as the first six-digits of the consolidation accounts.

The second six-digits should match the accounts on the income statements that you are consolidating. For example, if you are consolidating income statements that contain the account ‘010101 505000’, you need to create a consolidation account ‘ZZ0000 505000’ in Chart of Accounts. This must be completed for each account that exists on the income statements that are being consolidated.

The above process can be repeated for additional consolidation accounts using “ZY0000”, “ZX0000”, etc. as the first six digits.

After checking the ‘Consolidate Multiple Income Statements’ box in this selection, you’ll need to enter first two digits (e.g. “ZZ”) of the consolidation accounts at the ‘Title and Format Group Codes’ prompt.

Special Notes

• An income statement can be viewed for any period that is after the last purge date and that is on or before the ending date of the current Sales Analysis Reporting Month. Any prior period entries that have been dated on or before the prior period month are automatically included in the print.
• You cannot print the income statement for a period that spans more than one fiscal year.
• Whenever the ‘Consolidate Multiple Income Statement’ option is selected, the system creates a work file that accumulates the dollar amounts, account numbers, account titles, format codes, etc. of the accounts being consolidated. This information is used to produce the consolidate income statement.