Is there a way to either modify the profit loss statement to break out the operating expenses from the non operating expenses?
This program works great except for the profit loss statement. I need to have the operating and non operating expenses on the same report but broken out on the profit loss statement.
This will be possible when Multi-step Profit & Loss Statement is implemented. It will allow you to create sub-totals and income/expense groups. I already started working on this so it could appear sometime next month.
Is there an update on this? I need to separate operating from non-operating expenses on my P/L statement.
Yeah, this has been already implemented.
See Guides | Manager
This link doesnât bring me where I would like to be.
Where exactly can I change the settings in such a way that I can create / see the group-totals.
Hennie where have you been - that feature âMulti-step Profit & Loss Statementâ was implemented but has since been upgraded again with the new âChart of accountâ under settings, but you need ver 16.1.36 or later to see it.
Within that Chart of Accounts - P&L you can set up exactly what you require without a problem.
You can create groups with titles such as - Income, Cost of Sales, Direct Expenses, Overhead Expenses, Other or Non-operating Income or Other of Non-operating Expenses - the choice is entirely up to you. Just number (code) them in the sequence you want them to list.
Then point each general ledger account to their respective group, then you can create another group called Gross Profit etc and point other groups to it. My groups are below and the income and expenses group point to Gross Profit group to give a sub-total. NOTE that you must click the expenses box if you want that group to deduct otherwise they will add.
The new system is so flexible
Hi Brucanna,
I havenât been away. I recently updated Manager and Iâm now running on 16.1.61. I already discovered that you could create totals, and groups but I am missing a tutorial for how to set it up or how it exactly works.
To give an example.
I have one total called âIncomeâ with reference code 1
I have one total called âExpensesâ with reference code 2
In the management-summary as well as in the P&L it shows âNet-profitâ but I have nowhere entered this total.
When I add a third total f.e. Extra-ordinary Expenses" with reference code 3, my Nett-profit total disappears.
The Management summary shows me in the P&L section the group headings in alphabetical order, with no group totals Where do I enter the right codes for such totals and to get the totals presented in an order the way I would like ?
In reports, the P&L doesnât show me the groups at all, just the general-ledger accounts with the individual balances.
Can you please provide the instructions / guide how to set it up. Iâm not afraid for the trial and error method, but it is so time consuming.
Kind regards,
Hennie
Unfortunately there is no documentation on the new chart of accounts scheme. It has been promised, though.
OK - I think I see your problem - using âNew Totalâ instead of âNew Groupâ only - Creating a group heading automatically creates a total for those related accounts, asking for a Group Total just duplicates and adds an additional sub-totalling tier. Manager only allows for 2 tiers of totalling and it sounds as you have 3 or more tiers which means Manager strips out any middle tiers so in the P&L report you only see the first and last tier.
Now your chart of accounts sounds very similar to one of my enterprises and I donât use âNew Totalâ at all only âNew Groupâ - see the samples below - top and bottom of the Chart of Accounts and bottom of the P&L Report, also as I stated previous I point Income & Expenses groups to Gross Profit âgroupâ
The Net (Nett) Profit is the default Report Total generated by Manager not by the user,
Not that I have used but I think âNew Totalâ is more applicable if you want to sub-total various MV Expense accounts to see Total MV Expenses - but donât hold me to that.
@Hennie, check the latest version. P&L and balance sheet will show all custom groups created under Chart of Accounts now.
I updated immediately to the latest version and it looks great. Thanks for this improvement.
Keep up the good work and many greetings from the Netherlands.
I have just downloaded the latest version and now the P&L doesnât present correctly in the Chart of Accounts or the P&L Report as it did previously, The first thing I noticed was that the Income & Expenses groups no longer pointed to the Gross Profit Group as it had been deleted from the Group dropdown dialog box but was still listed on the Chart of Accounts - To correct this I deleted the Gross Profit chart of account and re-created a New Group Gross Profit so the Group dropdown looks like this which is exactly the same as before
I then repointed the Income group to the Gross Profit group as previously set up but it displays wrong. Previous Chart of Accounts layout verses the current layout
and previous P&L Report layout verses the current layout
If I also repoint the Expenses group to Gross Profit then the top line of both the Chart of Accounts and P&L Statement will say Gross Profit.
Q - Why did the Gross Profit group get deleted from the dropdown dialog and why is group code 1 now coming after group code 3 - also why is the system creating Groups tin dropdown dialog box that donât have a corresponding chart of account as other groups do - see below
In addition I have just noted that the Expenses Group chart of account has the expenses box ticked
But the P&L is not showing âlessâ
The other self created group Other Expenses doesnât appear to be affected but then it didnât have other groups pointed to it. - Hoping that this can be rectified quickly - please
There was a bug a few days ago which allowed you to put a group under âTotalâ. This never meant to be that way. âTotalâ is not meant to have sub-groups.
I can see that your Income group is sub-group of Gross Profit. So edit your income group and make sure itâs not under anything.
Hi can anyone help me. Somehow I have changed the income header in the profit and loss account. it now reads uncatorized. The edit button is shaded out so it wonât let me edit.
Can you post a screenshot what you see?
Profit and Loss Statement
For the period from 9/03/2016 to 11/03/2016
Uncategorized 4,000.00
Interest received -
Koha/Sponsorship 4,000.00
Sales -
Less Expenses 0.00
Accounting fees -
Advertising and promotion -
Bank charges -
Computer equipment -
Donations -
Electricity -
Entertainment -
Groceries -
Legal fees -
Motor vehicle expenses -
Printing and stationery -
Rent -
Repairs and maintenance -
Telephone -
Uniforms -
Net profit 4,000.00
You will need to post the actual screen shot, @volcanoes, not a transcription of it.
I want my profit and loss statement similar to the format that is in the file I have attached herewith. Please suggest. I read a lot in the forum as well as guide but could not conclude. However I learned to create account,group and new total for the P&L to look similar to the sample I have attached but couldnât find a way in which I can segregate food,beverages and other details as shown in the sample below.I guess I have to do something while creating sales invoice or creating inventory item.Also let me inform that I am using inventory kit to maintain my inventory.
I think I found an answer to my questionâŚIs it âcontrol accountâ that I should use?
I honestly donât think this should be hard for you.
Create a group for Food and put the food account under it.
Create a group for Beverages and create a group for other Operating income.
Their totals (groups totals) will be presented.
Introduce a âNew Totalâ when you want to sum things up to that point in the statement (Total Sales for Example).
Control accounts (Sub Accounts) are not available for P/L GL accounts.
