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Posted by Laura on February 2, 2007, 7:38 am
Please log in for more thread options It's the TYPE field that is forcing the additional net income calculations.
From the help file on Account type:
Income The main source of money coming into your company.
Other income Money received for something other than normal business
operations, such as interest income.
Expense Money that's leaving your company.
Other expense Money spent on something other than normal business
operations, such as corporate taxes.
Your non operating income and expenses need to have a TYPE of Other income
or Other Expense.
Not a sub-account of Other Income or Other expense with TYPE=Income or
Expense.
Also, "Ordinary Income" and "Ordinary Expenses" are just P&L line
descriptors. I would not make them accounts too or you will see a very
confusing P&L. So I suggest you undo that subaccount structure and correct
the TYPE field on the "other" accounts.
> Thanks, I'm almost there, I have changed all of the Income accounts to
> a sub account of "Ordinary Income" and all of the expense accounts to
> a sub account of either "Ordinary Expenses" or "Other Expenses". QB
> is now seperating them out, but it is not giving me a sub total profit
> or loss after totalling "Ordinary Expenses" Any thoughts.
>
>
> wrote:
>
>>>I need to be able to create a GOP (Gross Operating Profit) line on the
>>> P&L and then add expense items between the GOP line and Net Income
>>> line.
>>>
>>> Can this be done.
>>>
>>> Using Quickbooks Pro 2006.
>>>
>>> Thanks
>>
>>One way to accomplish this is to change the type for expenses & income
>>"below the line" to Other Expense & Other Income. QB will then format the
>>report as follows:
>>
>>Ordinary Income/Expense
>> Income
>> COGS
>>Gross Profit
>>Expenses
>>Net Ordinary Income
>>Other Income/Expense
>>Net Income
>>
>>This is probably the closest you are going to get with out upgrading to
>>the
>>Premier:accountant version to take advantage of the Financial Statemente
>>designer. Dump the report to excel and change the "net ordinary Income"
>>title to "Gross Operating Income".
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