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
David Hopper
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
David Hopper
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".
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.
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.
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