Non Business Items in Income Statement

Feature

Goldenseal accounting software now gives you the option to skip items marked as non-business, so they aren't included as expenses or income in the Income Statement report.

Suggested By

User request.

Setting Up

The Non-Business checkbox is an optional field that you can add to your data entry layouts if your company file includes both business and personal expenses. For details on adding the field to your expense layouts, click here.

You also need to change Preferences so the non-business expenses can be skipped. To do so, follow these steps:

1. Choose Preferences from the Options menu, and choose Expenses from the submenu.
2. Turn on the checkbox for Allow Non-Business Items.
3. Click OK.

Goldenseal already includes a revised Income Statement report that only includes business items. However if you have modified the Income Statement layout, you'll also need to change the report calculators so they will include only non-business items. To do so, follow these steps:

1. Choose Custom Layouts from the Options menu, and choose Reports from the submenu.
2. Enter Financials into the Area popup field at upper left, and enter Income Statement into the Report popup field.
3. Click on any item under the Cash or Accrued column.
4. Choose Calculator Properties from the Format menu.
5. Change the Calculation Type popup field to Business in Date Range.
6. Click OK.
7. Repeat steps 3 to 6 for each item under the Cash and Accrued columns.
8. Choose Save from the File menu.

Entering Data

When you enter income and expenses, mark each item that is not business related. To do so, follow these steps:

1. Locate the expense transactions.
2. Turn on the Non-Business checkbox. NOTE-- if you don't see a Non-Business checkbox, you may need to add it to the layout with the Custom Layouts command.

Income Statement Report

Finally, use the Income Statement report. To do so, follow these steps:

1. Choose Financials from the Reports menu, and choose Income Statement from the submenu.
2. Click the Update button. NOTE-- if you have customized the Income Statement report, you will need to change the report table to pick up non-business items.