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Using Multiple Income Statements for Different Revenue Streams (Desktop)
What it is: A feature that lets you allocate different income and expense accounts to separate Detailed Income Statements, so each revenue stream (e.g., trading vs. property income) is shown on its own schedule within the AFS.
What it's for
Some entities operate multiple business activities or revenue streams that need to be reported separately for management or disclosure purposes. Draftworx Desktop allows up to 5 additional Detailed Income Statements (more with a separate guide). The SoCI and main Detailed Income Statement always show the entity total; each additional statement shows its allocated stream.
How to do it
Allocate accounts to income statements
- On the Working Trial Balance, use the drop-down next to each income statement account to select which Detailed Income Statement it belongs to.
- Repeat for all income and expense accounts that belong to separate revenue streams.
Review and control what appears in the AFS
- Navigate to the Annual Financial Statements — the additional income statements appear automatically.
- Under Content, deselect any income statements that should not be included in the printed AFS.
Rename the income statements
- Navigate to the Index of the AFS.
- Edit the name in the formula bar for the relevant income statement.
- The updated name will appear on the AFS index and statement tab.