Report Number Sources

Problem

Confusion about values or amounts used in Income and Cost reports. When to use the different types of Reports in Goldenseal small business accounting software.

Solution

Job Cost reports use the job cost amount. For labor, this usually includes burden (employer taxes and insurance), but you can set it via the Labor Billing Rate used for the Job Cost Rate in each Employee record. Find these reports in Costs--Job Costs, and in Reports--Projects.

Expense reports show accrued expenses. The amounts are based on when the expense starts out, whether or not it is paid. Find them in Reports--Expenses.

Income reports show accrued income. The amounts are based on when the income starts out, from a Sale, project Billing Record or Rental Transaction. Find them in Reports--Income.

Banking reports show cash income and expenses. The amounts are based on when expenses are paid, so it does not include expenses that are billed, but unpaid. Likewise, cash income does not occur until the money is received and deposited. Fund them in Reports--Banking.

Profit and Loss reports can use either cash or accrued expense. They also can use a variety of different breakdown types. Set them up in Options--Preferences--Income, and access them in Reports--Financials.

Comments

Entered 10/22/01 by Gor. Rewrite 6/4/10.