[GNC] Existing multicolumn reports pick up old versions of selected single-column reports which have been edited.

[Adrien Monteleone]

Yep, nomenclature is always an issue. In this case, a relatively recent historical confounding interchange of the terms ‘income’ and ‘revenue’ can lead to some not realizing that report also includes expenses.


I think ‘Income Statement’ is the traditional name of the report, at least that is what is in my Accounting textbook from my college days. (with the traditional formula, “Income = Revenue - Expenses”) These days it is used mostly by individuals, where 'Profit & Loss' is used by businesses, and ‘Statement of Revenue & Expenditures’ is used by non-profits. But unless I’m mistaken, in form, they are all the same. (There are alternate forms for P&L which group revenue categories, and might break-out COGS from Expenses with a separate ’Net Revenue’ line, then go into Expenses, and then sometimes Expenses are grouped by various managerial analysis categories; there is also the ‘profit center’ format, which is another beast entirely, but still technically a P&L)

Regards,
Adrien

> On Mar 20, 2020 w12d80, at 12:34 PM, Michael Hendry <hendry.michael at gmail.com> wrote:
> 
>> On 20 Mar 2020, at 17:05, Adrien Monteleone <adrien.monteleone at lusfiber.net> wrote:
>> 
>> 
>>> On Mar 20, 2020 w12d80, at 12:01 PM, Michael Hendry <hendry.michael at gmail.com> wrote:
>>> 
>>> 
>>> I haven’t looked into it thoroughly, but I don’t think there is an equivalent “experimental” report for Revenue & Expenditure, which would provide the same look-and-feel as the experimental multicolumn balance sheet, so I’ll probably need to remember to update the report selection option in my current multicolumn versions if I make changes to the reports they depend on.
>> 
>> You mean as in a P&L a.k.a. Income Statement? Yes, there is one of those also in experimental.
> 
> Of course there is, I missed it!
> 
> When dealing with a charity, "Profit & Loss” is reported as “Revenue & Expenditure” - I just hadn’t realised that an Income Statement would deal with Expenditure at the same time!
> 
> Michael