Profit and Loss Statement

Hi, How can I get a full overview of my total expenses and total losses, I need this for reporting taxes in Denmark, right now it will calculate each category for me I don’t need that. I need to know exactly how much money went into the company and how much went out, so a total of each, to report my taxes… my accounting had to move everything over into another program

all the best

Jean

Under Reports create a Profit and Loss Statement with both the Expenses and Income groups collapsed.

I don’t have that option at all, my Groups to collapse field is blank… I only have the option of “materials” which is a custom category I have created

all answers provided on the forum are wrt latest version of Manager.
try updating if you have not updated your Manager software.

have you edited the account names in your Chart of Accounts?
please provide necessary screenshots to get help.

Im on the latest version, I havent edited anything other then adding “materials” as a category, I’m using the default categories that came standard.

@sharpdrivetek Ok, created a new user to see if it was different, and It was… the structure of accounts was completely different. With things grouped in Income and Expenses, so I guess I can recreate that, might be because it was created which a much earlier version. Anyway but that kinda creates the same problem, why do something have to be either in the Income or the Expense group, for instance I have several of these categories which both have income and expenses in them, for instance I have expenses related to a specific “Sale” so in that case I want the expenses and income to be in the same category, or in the case of Rent where I rent a bigger space and rent out smaller spaces to people. I don’t want that in 2 separate categories because I need to have an overview of income and expenses within a specific category… It doesn’t make any sense to me that I have to group/categorise something as an expense to get an overview of my expenses, the program clearly knows it a money going out of the Buisness. so would I have to create separate categories like “Rent (Income)” and Rent(expenses) ?

Click in the field and you will be able to select those items. To later delete them when listed click the “x”

Indivdual accounts can be edited in “Setting” -> “Chart of accounts” to assign them to income or expense
COA%20inome%20-%20Expenses

@Patch yes I figured that out… but it kinda creates the same problem in another way… as explained in my follow up post, where I explain that within certain categories there can be both income and expense. so I don’t really want them assigned to either or… I don’t understand why even in general ledger summary/General Ledger Transactions or any other report that I can’t get a total for negative values and positive values before it calculates the sum… seems strange to me

I could use Tax Summery/Tax Transactions reports… but the problem with them is that they only display movement which has VAT (moms in Denmark) taxes on it, where not all my expenses or income has VAT

With rare exception, everything on the profit and loss statement is either income or expense. It sounds like you might benefit from some basic knowledge about double-entry accounting. Otherwise, you will never understand what Manager is meant to do for you. I suggest reading this Guide: https://www.manager.io/guides/8965. Then, spend some time at this web site: https://www.accountingcoach.com/.

@Tut

I don’t know if you you misunderstood what I was saying. its not something is both income and expense. what I was saying is that within a certain category I can have both income and expenses, so basically the question is would i for instance have to create a separate Rent category in income group if i also have Rent income?

and would it be to much to suggest adding a pre total of expenses and income in the reports before calculating the sum? basicly like the Tax Reports do it, or at least give me to option to include it in the report

I’m not sure what you mean. There are no categories in the chart of accounts. There are groups and accounts. You would need a Rent income account, assigned to an Income group. See this Guide for general information on how to build your chart of accounts: https://www.manager.io/guides/9181. See this Guide for information about adding accounts: https://www.manager.io/guides/9812.

You do not specify what report you are referring to. But, if you mean the Profit and Loss Statement, proper construction of the chart of accounts results in subtotals for groups automatically. The reason you are not seeing them is because you constructed your chart of accounts in a totally unconventional way.

When I say category I mean what you call “accounts” since the program itself refers to Uncategorized.
I did set up my “accounts” after what the default is now, I will repost what I said earlier with the word Accounts I don’t know if you red it:

For instance I have several of these accounts which both have income and expenses in them, for instance I have expenses related to a specific “Sale” so in that case I want the expenses and income to be in the same account, or in the case of Rent where I rent a bigger space and rent out smaller spaces to people. I don’t want that in 2 separate accounts because I need to have an overview of income and expenses within a specific account… It doesn’t make any sense to me that I have to group/categorise something as an expense to get an overview of my expenses, the program clearly knows it a money going out or in to the Buisness since its based on positive or negative number. so would I have two create separate accounts like “Rent (Income)” and Rent(expenses) ?


“You do not specify what report you are referring to. But, if you mean the Profit and Loss Statement, proper construction of the chart of accounts results in subtotals for groups automatically. The reason you are not seeing them is because you constructed your chart of accounts in a totally unconventional way.”

Any report basically… like General Ledger Transactions will also not give me a total of all the negative values and positive it will only give me that for each "Account/category

I need a subtotal of negative values and of positive values…

the only reports that does it is Tax Reports but they only include things which has VAT

"Uncategorized means you have not assigned the account to a group. It does not mean that account and category mean the same thing.

It may not make sense to you, but it will make sense to your banker, your accountant, and your tax authority. While it is possible to net things against one another, there is then no point in using an accounting system. What you describe is no better than putting cash in your wallet when customers pay you and taking cash out of your wallet when you buy something. Yes, you can tell how much money you have in your wallet, but you have totally lost the ability to report income and expenses, which is what you say you want. This system of posting transactions to income and expense accounts was invented more than 500 years ago, and is used all around the world. My advice is to adapt. If you don’t want to, don’t use a double-entry accounting system. Use a spreadsheet and keep a list of positive and negative transactions.