Friday, April 5, 2019

Create a Comparative Income Statement to Display Quarter Balance and corresponding Months

If a user wants to create an Income Statement where first column will show Quarter and the succeeding columns for the individual Months, then this is possible through a Customized Income Statement Report.

To illustrate, assume that the Quarter is January to March and the user wants first column to show balance for the whole Quarter with three other columns for each month (i.e. January, February and March):

  1. Navigate to Reports>Financial>Income Statement
  2. Hit Customize
  3. Navigate to Edit Columns
  4. Add three new columns by selecting Financial folder then Amount field
  5. Highlight the first Amount column then select Alternate Period Range Type = Relative to Today's Date, Alternate Period Range = Custom and Periods = Jan to May 2013 
  6. Highlight the second Amount column then select Alternate Period Range Type = Relative to Today's Date, Alternate Period Range = Custom and Periods = Jan 2013 
  7. Highlight the third Amount column then select Alternate Period Range Type = Relative to Today's Date, Alternate Period Range = Custom and Periods = Feb 2013 
  8. Highlight the fourth Amount column then select Alternate Period Range Type = Relative to Today's Date, Alternate Period Range = Custom and Periods = Mar2013 
  9. Hit Preview or Save

Note: The column title can be customized by entering a Custom Label on each columns added on this report. This approach can be used when a user wants to show Year for the first column then broken down to Quarters and Months.

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