Move Existing EXPENSE accounts into existing INCOME account

[R.V.Fagan]

I have a somewhat (or perhaps totally) strange request. I have business service entities currently set up with a single income and multiple expense accounts, and are currently grouped by a single ‘sub-account’. Therefore, I have to run the sub-account report to be able to manually calculate my ‘net income’.

I would like to MOVE the existing expense accounts to the income account, BUT with different individual ‘sub-accounts’. This would allow me to see the obvious NET INCOME when I run an ‘income expense report’, without having to additionally run numerous sub-account reports, and then doing the manual calculation.

This is where I am attemting to get:
01-1234-500 ‘Catering Income’
01-1234-501 ‘Catering Expenses’ (ie groceries, table clothes, cups, tray, etc)
01-1234-502 ‘Catering Propane’
01-1234-503 ‘Catering Garbage’
01-1234-504 ‘Catering Snow Clearing’

In this suggested scenario, if I do an Income/Expense report on ‘Catering’ I get the net income. Also, if I want to see the consolidated snow clearing expenses for all aspects of our other operations, I just do the sub-account report for 504, and I see our total snow clearing costs for the catering, the cemetery, the church, the whatever…

I can set this up easily going forward with new account codes BUT it won’t permit me to move existing expenses accounts into an income account.

[NeilZ]

I have a somewhat (or perhaps totally) strange request. I have business service entities currently set up with a single income and multiple expense accounts, and are currently grouped by a single ‘sub-account’. Therefore, I have to run the sub-account report to be able to manually calculate my ‘net income’.

I would like to MOVE the existing expense accounts to the income account, BUT with different individual ‘sub-accounts’. This would allow me to see the obvious NET INCOME when I run an ‘income expense report’, without having to additionally run numerous sub-account reports, and then doing the manual calculation.

This is where I am attemting to get:
01-1234-500 ‘Catering Income’
01-1234-501 ‘Catering Expenses’ (ie groceries, table clothes, cups, tray, etc)
01-1234-502 ‘Catering Propane’
01-1234-503 ‘Catering Garbage’
01-1234-504 ‘Catering Snow Clearing’

In this suggested scenario, if I do an Income/Expense report on ‘Catering’ I get the net income. Also, if I want to see the consolidated snow clearing expenses for all aspects of our other operations, I just do the sub-account report for 504, and I see our total snow clearing costs for the catering, the cemetery, the church, the whatever…

I can set this up easily going forward with new account codes BUT it won’t permit me to move existing expenses accounts into an income account.

Um ... the reason it won't let you move expense accounts into an income account is that they are two separate things!!

1. In Powerchurch, Income accounts are 4000 series accounts, 1000 series are ASSET accounts.
2. Expense accounts are 5000 series and higher (up to 8999 if necessary)
3. Income is money going in, expenses is money going out. Never the twain shall meet under income.

I believe you can do the following:

Income:
01-4200-500 "income"
01-5301-500 "Expense 1"
01-5302-500 "Expense 2"
01-5303-500 "Expense 3"

and get the results you want.

[R.V.Fagan]

Neil - Thanks for the prompt response. Yes, I was aware of the cross boundaries on the Chart of Account blocks, and the way you suggested is exactly my current confirguration. I was (hopelessly it seems) trying to get the results to actually reduce the income on the Income/Expense report, rather than have gross income and gross expenses, coupled with an adjunct sub-account report. The historical data will have to stand as it is (can't be easily moved - other than a year-end journal), but going forward I can capture it on Income/Expense report. Thanks so much for your time.