Change Report Format and retain history
For the new financial year I have been asked to revise the format to make it more meaning for Business managers. Currently we use a fairly basic format of
Total Revenue = Gross Profit
- Total Expenses
Operating Profit
+Other Revenue
Other Expenses
= Net Profit / (Loss)
What I am being asked to prepare is
Direct Revenue (from Operations)
Direct Costs
GROSS MARGIN
Indirect Revenue
Indirect Costs
OPERATING PROFIT / (LOSS)
Other Revenue
Other Exepnes
NET PROFIT / (LOSS)
This would mean moving some of the Total Expenses accounts to Direct Costs and also splitting some of the Total Revenue into Operating & Indirect
I can either do this by creating new accounts in the required areas or tryng to modify the Reporting BUT they key thing is to try & maintain history for analysis
Any thoughts on the best approach