Income/Expense Report
Mike or Penny Novack
stepbystepfarm at mtdata.com
Sat Nov 14 07:27:39 EST 2009
>Is there a way to get a table that looks like the Income Statement but
>with multiple months/time periods, one in each column?
>
>
>
This came up with regard to the organization for which I keep books,
because normal practice for a non-profit to present the data for two
consecutive fiscal periods side by side like that. I asked should I
write a "custom report" within GnuCash to produce that output (retired
after a few decades designing software for financial systems) but was
told "don't bother". That whoever is preparing the finished version of
the report will want to use their favorite editor for the purpose so
just have GnuCash produce the raw reports. Just as easy to have that
editor copy in the data and place it wherever.
Why? Why editing? A proper according to GAAP report has more than just
the raw numbers with no explanations. At each point there is something
that would raise eyebrows and be questioned it saves time and trouble to
place a "footnote". Let's take an example from my own organization.
Let's say on the line for "annual meeting" expense the 2007 total was
$500 and the 2008 total was $1500. Was there actually some big
difference in cost? (note could explain why) or was this an illusion
caused by books being on a cash basis (note might be explaining the
illusion). In our case this was "$500 invoice for the printing/mailing
for the 2007 meeting paid in Jan 2008" (so the expenses for both annual
meetings about the same $1000). Having those notes in place saves time
when presenting the report to the board and you DON'T want the
government folks coming back to you with all sorts of questions about
things that look strange but aren't (they'll begin thinking "where
there's smoke, there's fire").
The point is each "finished" report as presented to the board of
directors and filed with various authorities might have a half dozen
such notations plus a significant amount of fixed text. Things like
setting out what counts as a "fixed asset" vs what is immediately
expensed and what is the depreciation schedule -- a non-profit is free
to choose its policy as tax laws don't apply but must state what it is
in the report. So you WILL be using an editor anyway, might as well use
that editor for the whole job.
Michael
PS -- Yes I understand, many of you are "home users" not involved with
formal reports. But you need to understand why the "pros" like myself
who might have the expertise to write such reports or organizations
willing to fund a project to do the work aren't stepping forward. Normal
that the accounting software just produces "raw" reports and then the
accountant uses that data to prepare the finished report.
--
There is no possibility of social justice on a dead planet except the equality of the grave.
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