Income Statement, Balance Sheet and Project Statement Layout

This window displays the current layout of your income statement, balance sheet or project statement respectively. It is used for adding new account collections or editing a current collection. The chart lists the collections of accounts with the relative position. It also displays each account belonging to the different collections.

and indicates a collection

indicates an account

In SMARTEDGE the layout can be customised to your own needs and requirements.

Adding a New Collection

Click the link [Add Collection] to create a new collection. A new window will open where you specify the header, footer and the style of the collection.

Editing a Collection

To edit the text or move the collection to a different postion, click on the label or folder icon for the collection you want to change. A new window will open where you can change the necessary information.

Deleting a Collection

A collection that does not contain any accounts or sub-collections can be deleted. Click on the label or folder icon for the collection you want to change. A new window will open where you click the Delete button to remove the collection.

Moving an account to a different collection

To move an account to a different collection, click on the account and the Account Details will open. Change the collection the account belongs to.

System Default Income Statement Layout

Below the system default income statement is displayed. Please note that a few of the collections have been collapsed to enable the image to display all collections.

Interpreting the Layout

The layout is displayed as a tree structure meaning that the total for a collection equals the sum of transactions on all accounts in all sub-collections. For instance, the Profit before EOI collection, produce a sub-total with the text Profit Before EOI which will include the transactions of all accounts within the collection.

This layout would produce an income statement looking like this:

Why are some headers not showing

In the income statement itself, several of the headings are missing. This is because they have been set to hidden. A hidden header is not printed. Typically this is used for collections having sub-collections, since you only want the sum to be printed. These settings can be changed when you edit a collection.

System Default Balance Sheet Layout

Below the system default balance sheet is displayed. Please note that a few of the collections have been collapsed to enable the image to display all collections.

Interpreting the Layout

The layout is displayed as a tree structure meaning that the total for a collection equals the sum of transactions on all accounts in all sub-collections. For instance, the Capital Assets collection, produce a sub-total with the text Sum Capital Assets which will include the transactions of all accounts within the collection, in this case Fixed Assets and Other Capital Assets.

This layout would produce an balance sheet looking like this:

Why are some headers not showing

In the balance sheet itself, several of the headings are missing. This is because they have been set to hidden. A hidden header is not printed. Typically this is used for collections having sub-collections, since you only want the sum to be printed. These settings can be changed when you edit a collection.

System Default Project Statement Layout

Below the system default project statement is displayed. Please note that some of the collections have been collapsed to enable the image to display all collections.

Interpreting the Layout

The layout is displayed as a tree structure meaning that the total for a collection equals the sum of transactions on all accounts in all sub-collections. For instance, the Project Revenues collection, produce a sub-total with the text Projects Revenues which will include the project transactions of all accounts within the collection.

This layout would produce an project statement looking like this:

Why are some headers not showing

In the project statement itself, several of the headings are missing. This is because they have been set to hidden. A hidden header is not printed. Typically this is used for collections having sub-collections, since you only want the sum to be printed. These settings can be changed when you edit a collection.

Example For Changing the Income Statement

In this example we will merge the Financial Expenses and Financial Income into the parent collection Financial Items. This is done by removing the two sub-collections. Before we can remove them, we need to move the accounts belonging to the Financial Expenses and Financial Income Collections.

First click on the Interest Income account. The account details window will open. Click Edit and Change the collection to Financial Items, then save.

Go back to the Layout window (you can use the back button, but please note that the change will not reflect unless you refresh).

Repeat this procedure for all accounts in Financial Income and Financial Expenses. When done the layout should look as follows:

The next step will be to remove the two collections that are not used any more. To do this, first click on the collection for the Financial Income. The following window will open. For more information about this window, click here.

Click the Delete button to removed the collection. Repeat this process for the Financial Expenses collection. When you have done this you will see that these two collections are no longer present in the layout. To test you changes go to the Financials » Reports » Financial Statements » R01 Income Statement report. It will now look like this:

Continuing the Example by moving Financial Items under Operating Profit

This example will illustrate how a collection can be moved and the style of the header and footer changed.

Click on the Financial Items collection, and click Edit in the new window. The following will display:

We want to move this collection to be included in Operation Expenses (remember this is an example only). Doing so we also want to hide the header of the collection, and change the footer style.

Moving the Collection to a New Parent

The collection is moved by selecting a different parent collection in the field Belongs To Collection. Click on the Select button and the collection structure will be displayed on the right-hand side. Select the Operating Expenses collection as the new parent (changing it from Profit Before Taxes).

Adjusting the Position within the Parent

The field position determines where this collection is put among other collections belonging to the same parent. In this case Last is the correct option, because in this example we want to put it after the other collections inside Operating Expenses. This field is important to set properly. If we wanted to put financial items before any of the other collections, the appropriate option should to be selected.

Changing the Header and Footer Style

Since the collection now belongs to operating expenses, we want to hide the header and make the footer look similar to other collections inside the Operating Expenses collection. Change the Header style from Medium Header to Hidden. Change the Footer style from Footer 5 to Footer 6. You will see that the Sample headers changes when you do this.

Invert Amount

The field Invert Amount is very important to set properly. Invert amount should always be enabled if the collection is within the income part of the income statement and contains Income accounts. In this case Financial Items is within the Expenses part of the statment. Although it contains both income and expenses accounts, the invert amount setting should be disabled. Please note that this is a fictional example as you would not normally put both financial income and financial expenses within Operating Expenses.

The window should now look as follows:

Click Save to save your changes. After you have done that go back to the Income Statement Layout (refresh it if you used the Back Button). The Collection Layout will now look like this:

To test you changes go to the Financials » Reports » Financial Statements » R01 Income Statement report. It will now look like this:

The Financial Items collection has been moved within Operating Expenses. The header has been hidden and the footer style changed to match the other footers in the collection. Sinces Interest Income is actually an income account it will be displayed as a negative cost.