Income Statement columns
Mike or Penny Novack
mpnovack at mtdata.com
Sun Jul 31 18:11:32 EDT 2016
On 7/31/2016 10:36 AM, Gary Holtum wrote:
> In the expense section of the income statement, accounts that have
> subaccounts are itemized in the left column and the parent acct is zero.
> Accounts without subaccounts are in the right column. Why? Seems contrary to
> standard T acct. structure. They are all expenses.
>
> Gary
>
I think you might be misinterpreting what you are seeing.
In the "Income Statement" report there is no left hand vs right hand
column situation in terms of debit vs credit*. What you are seeing is
the number of columns appropriate for the nesting level of your CoA (and
the maximum nesting level you have chosen for the report to display).
Whether you see amounts for the parent accounts before (on their line)
or on a total line tat the report will add depends on the options you
have chosen.
If new to using a report, you should perhaps go into Edit => Report
Options (having first opened the report) and see what changing various
options does to the report. For example, I am using:
1) nesting level 4 or 5 depending on the set of books (I am always
needing more than the default 3)
2) don't show parent amount (on its line) but do show subtotals.
3) and of course, I am always setting the date range for the report as
an Income Statement** is always for a specific accounting period. Normal
to also have a Balance Sheet report for the start and end date.
Michael D Novack
* In other words, all are balances of expense account. If unusually one
of these accounts has a credit balance, will show as negative amounts
are displayed.
** Well, for me, keeping books for non-profits, Revenue Statement of
Statement of Revenues and Expenses. How the report is to be titled is
another of those options.
* In the expense part of the report, those are all debits.
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