Accessing Profit and Loss / Balance Sheet Setup
Navigate to the Settings section and under the System Setup Section click the “System Settings” Button. Then under the General Settings Section click the “Profit and Loss / Balance Sheet Setup" button.
Overview
The Profit and Loss Balance Sheet provides a structured financial overview of an organization’s income, expenses, liabilities, and revenue. It ensures accurate financial tracking, aids in budgeting, and helps in decision-making for financial planning.
To view or modify financial categories and nodes (if your user has the required access level):
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Go to Main Menu → Settings → System Settings → Profit & Loss / Balance Sheet.
List of Current Profit and Loss Categories
Revenue & Income
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Total Revenue: Represents the total earnings of the company before any deductions.
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Operating Revenue: Income generated from primary business operations.
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Other Income: Additional earnings from non-primary business activities.
Expenses
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Operating Expenses: Costs incurred in the daily operations of the business.
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Indirect Expenses: Expenses that are not directly tied to production but are necessary for business operations.
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Impairment Losses: Write-offs due to asset devaluation or financial adjustments.
Equity & Liabilities
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Equity: Represents ownership value in the company after deducting liabilities.
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Liabilities: Financial obligations that the company must settle in the future.
How to Modify Profit and Loss Settings
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Navigate to Main Menu → Settings → System Settings → Financial System Settings → Profit & Loss / Balance Sheet.
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Locate the category you wish to edit.
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Ensure you have the required access level to make modifications.
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Click "Edit" or "Add Node" to modify or expand financial categories.
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Click "Save Config" to apply changes or "Reset Config" to revert modifications.
⚠️ Warning: Changes to financial settings impact the entire accounting system. Modify only with financial administrative authorization.