Customize Income Statement with Other Income and Other Expenses

Listed below are the steps to create a Profit Loss Statement in a Search.

1)     Navigate to Reports > New Search > Transaction

2)     Under the Criteria tab:

1. Add Account Type is any Income, Cost of Goods Sold, Expense, Other Income, Other Expense
2. Date is within this month
3. Positing is True

3)     Under the Results tab:

1. Formula (Currency)
2.     Summary Type: Sum
3.     Custom Label: Revenue

                                        iii.    Summary Label: Revenue

1.     Formula: case when {accounttype} = 'Income' then {grossamount} else 0 end
2. Formula (Currency)
3.     Summary Type: Sum
4.     Custom Label: COGS

                                        iii.    Summary Label: COGS

1.     Formula: case when {accounttype} = 'Cost of Goods Sold' then {grossamount} else 0 end
2. Formula (Currency)
3.     Summary Type: Sum
4.     Custom Label: GP

                                        iii.    Summary Label: GP

1.     Formula: (case when {accounttype} = 'Income' then {grossamount} else 0 end) + (case when {accounttype} = 'Cost of Goods Sold' then {grossamount} else 0 end)
2. Formula (Currency)
3.     Summary Type: Sum
4.     Custom Label: Expense

                                        iii.    Summary Label: Expense

1.     Formula: case when {accounttype} = 'Expense' then {grossamount} else 0 end
2. Formula (Currency)
3.     Summary Type: Sum
4.     Custom Label: Ordinary Income

                                        iii.    Summary Label: Ordinary Income

1.     Formula: (case when {accounttype} = 'Income' then {grossamount} else 0 end) + (case when {accounttype} = 'Cost of Goods Sold' then {grossamount} else 0 end) + (case when {accounttype} = 'Expense' then {grossamount} else 0 end)

f.     Formula (Currency)

1.     Summary Type: Sum
2.     Custom Label: Other Expense

                                        iii.    Summary Label: Other Expense

1.     Formula: case when {accounttype} = 'Other Expense' then {grossamount} else 0 end
2. Formula (Currency)
3.     Summary Type: Sum
4.     Custom Label: Other Income

                                        iii.    Summary Label: Other Income

1.     Formula: case when {accounttype} = 'Other Income' then {grossamount} else 0 end
2. Formula (Currency)
3.     Summary Type: Sum
4.     Custom Label: OE + OI

                                        iii.    Summary Label: OE + OI

1.     Formula: (case when {accounttype} = 'Other Expense' then {grossamount} else 0 end ) + (case when {accounttype} = 'Other Income' then {grossamount} else 0 end)
2. Formula (Currency)
3.     Summary Type: Sum
4.     Custom Label: Net Income

                                        iii.    Summary Label: Net Income

1.     Formula: (case when {accounttype} = 'Income' then {grossamount} else 0 end) + (case when {accounttype} = 'Cost of Goods Sold' then {grossamount} else 0 end) + (case when {accounttype} = 'Expense' then {grossamount} else 0 end) + (case when {accounttype} = 'Other Expense' then {grossamount} else 0 end ) + (case when {accounttype} = 'Other Income' then {grossamount} else 0 end)

4)     Select Create Saved Search

5)     Change Search Title

6)    Save & Run