Configuring Profit and Loss

Except for the required default reporting structure of the entity and group income statement reports, you can configure two alternative parallel reporting structures.

You can enable or disable alternative reporting structures independently.

  1. Select Modules > Consolidation > Profit and Loss and click Configure.
  2. On the Default Settings tab, specify this information to configure the required default Profit and Loss reporting structure:
    Total Profit and Loss
    Select the group account to be the top account in the profit and loss hierarchy.
    Sum of the P&L before Currency Translation
    Select the group account to be the top account in the profit and loss hierarchy before currency exchange differences.
    Currency Translation Differences
    Select the P&L account to which to post system generated currency exchange differences.
    Deferred Tax-Expenditure
    Select the P&L account to which to post system generated deferred tax charges.
    Deferred Tax - Expenditure Detail
    Optionally, select the Profit and Loss account detail that is used to post system-generated deferred tax charges.
    Deferred Tax-Revenue
    Select the P&L account to which to post system generated deferred tax credits.
    Deferred Tax - Revenue Detail
    Optionally, select the Profit and Loss account detail that is used to post system-generated deferred tax credits.
  3. Click Save.
  4. Optionally, to configure an alternative Profit and Loss reporting structure, click the Alternative Settings 1 tab and enable the Alternative Settings 1 switch.
  5. Optionally, in the Name field, specify the name for the alternative reporting structure or leave the default name.
  6. In the Total Profit and Loss field, select an appropriate group account as the top element.
  7. Click Save.
  8. Optionally, to configure another alternative Profit and Loss reporting structure, click the Alternative Settings 2 tab and enable the Alternative Settings 2 switch.
  9. Perform steps 5-7.