How to add profit before income tax in P&L cash report

Experienced Cover User HARRYX
29 Posts
Experienced Cover User
Australia
HARRYX
Experienced Cover User

29Posts

1Kudos

0Solutions

Solved: Go to Solution

How to add profit before income tax in P&L cash report

Hi Guys,

 

For the Profit & Loss (cash) report, how to insert a line before income tax to show an additional item as "Profit Before Income Tax Expenses"?

 

Many thanks

3 REPLIES
MYOB Moderator Steven_M
21,609 Posts
MYOB Moderator
New Zealand
Steven_M
MYOB Moderator

21609Posts

2420Kudos

3045Solutions

Accepted Solution Solved Solution

Re: How to add profit before income tax in P&L cash report

Hi @HARRYX

 

AccountRight doesn't allow for the adding of additional lines & calculations to the Profit and Loss reports. 

 

If you do require additional values and calculations to be shown on a Profit and Loss report I would send the report to Excel, once in Excel make the necessary changes. Help Article: Exporting reports would be able to assist with that process.


Kind Regards,
Steven
MYOB Client Support
Experienced Cover User HARRYX
29 Posts
Experienced Cover User
Australia
HARRYX
Experienced Cover User

29Posts

1Kudos

0Solutions

Re: How to add profit before income tax in P&L cash report

Noted with thanks

Ultimate Partner Seattle
1,486 Posts
Ultimate Partner
Australia
Seattle
Ultimate Partner

1486Posts

1202Kudos

142Solutions

Re: How to add profit before income tax in P&L cash report

@HARRYX @Steven_M

 

Harry,

 

Income Tax Expense would normally be recorded as a Other Expense.

A Company prepares a Journal  Dr Income Tax Expense  Cr Income Tax Payable.

The Income Tax Expense line would appear on the P&L prepared by MYOB.

 

I do not believe it is necessary to send to Excel as a reader of the P&L would clearly understand that one profit line is before tax.

 

Let us know your thoughts.

 

Duncan

Duncan Smith
Business Advice + Tax
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days
Didn't find your answer here?
Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post