Adding Multiple Detailed Income Statements (Cloud)

What it is: The ability in Draftworx Cloud to include more than one Detailed Income Statement in a set of financial statements, used for segmental reporting where different parts of the business need separate income disclosures.

What it's for

By default a Draftworx Cloud engagement includes a single Detailed Income Statement. When a client operates in multiple segments or divisions that require separate income disclosure, additional Detailed Income Statements (up to 5 by default, more via Template Tools) can be added. Trial Balance line items are assigned to the relevant income statement number, and Draftworx automatically generates the additional sheets.

How to do it

Adding additional Detailed Income Statements

1. By default the Financial Statements show one Detailed Income Statement.
2. Navigate to the Working Trial Balance.
3. For each Trial Balance entry that belongs on an additional income statement, select the Income Statement Number under the Type Column.
4. Choose the desired additional income statement number from the list (e.g. Income Statement 2, 3, etc.). For more than 5 statements, refer to the Template Tools article on Adding Additional Detailed Income Statements.
5. Once all entries are allocated, navigate to the Financials.
6. Select Refresh to apply the changes.
7. The additional Detailed Income Statements now appear in the financial statements.

Naming the additional income statements

8. Navigate to the Index Sheet.
9. Select the cell for the income statement name you want to update and type the new name in the Formula Bar.
10. The updated name will reflect across the additional Detailed Income Statements automatically.

Related concepts

• Trial Balance
• Disclosures

Source

https://draftworx.helpjuice.com/en_US/cloud/draftworx-cloud-adding-multiple-detailed-income-statements

Walkthrough

• Adding Multiple Detailed Income Statements guide (9 steps)