Move Existing EXPENSE accounts into existing INCOME account
Posted: Tue Jan 09, 2024 10:34 am
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.
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.