I’ve notices that now the Net Income is not showing in the PL Report.
I can see total expense and total income but not net income.
Is there a way to get that back?
I’m on the latest Mac version 16.4.55
And what does it show at the end? Can you show screenshot?
For the default Profit and Loss Statement, v16.4.55 on a Mac shows me Income (with income accounts listed in account code order if you use codes, otherwise alphabetically), Expenses (followed by expense accounts), and then Net profit (loss). That is without using any additional groups or totals in the chart of accounts.
If yours shows something else, I suspect the problem lies with your chart of accounts. I don’t recall the standard report format ever using the heading Net Income.
This is the screenshot of the bottom (end) of my PL Statement. What is actually showing is the Net Income under the Expense category.
So actually it is showing Net Income but it labels it as Expense and it’s not showing total Expense
Not sure what’s the issue. You can send me your backup file to lubos@manager.io and I can have a look.
You are also missing the group total for the group directly above your bottom line. The only account showing is Work related expenses, so I assume that group must be your Expenses group. Is every account in that group set up to be a member of the Expenses group in your chart of accounts? Are your income accounts likewise set up to be members of the Income group?
Yes, he did. And I was calling attention to the fact that a specific line on the report was missing as a potential clue to why the Net profit (loss) line wasn’t showing. That is why I asked explicitly about assignment of accounts to groups.
Here is a more fuller screenshot of the end of the PL report, there is no more after the last line:
Go to your Chart of Accounts and delete Expenses total at the end. If you have many expense groups and want to see total for all expenses, then you need to create Expenses group (not total) and put all groups such as transportation, utilities under this new top level Expenses group.
You shouldn’t actually create any totals in your chart of accounts. They are for the purpose of creating multi-step income statement.