Company P&L

The P & L for the company is current as of the last time you closed the period. It consists of two sides, company interest on the left and gross on the right. The report reads from the Company Chart of Accounts. Values in the Company Chart of Accounts are updated during period close processing. You can print multiple copies by increasing the number of copies on the print box.

Select Financials - Company - P&L

COMPANY INTEREST VALUES

Company interest values are updated during period close procedures. Each transaction in the Transaction file for sales (3xxxx), taxes, and billable expenses (71xxxx-75999) is located for the status code. If the transaction for general ledger numbers listed also has a unit number, the DOI is checked under that status for any owner number checked in the company interest field of the DOI file. Company interest amount is calculated by multiplying the status percentage in the DOI file by the gross amount for each transaction. Company interest owners (normally numbers 99990 to 99999) in the DOI file must be checked for the company interest field. If no DOI exist for this unit, 100 percent of the amount is used for the company's interest.

Offset accounts (JIB and Revenue Distribution) are not printed on the company interest side, but are printed on the gross side. All other 76xxx-99999 are calculated at 100% on the company and gross side of the P & L. Values for company interest and gross are updated and stored in the Company Chart of Accounts file during period closing. It is advisable to print a Preliminary P & L for the company prior to closing to check calculated values that are not yet stored.

GROSS PROFIT & LOSS

Gross values are updated during period close procedures and are the gross amount of each transaction. Offset accounts are printed on the gross side of the P & L report, but not on the company side. These accounts are used most frequently for the purpose of billing Investors and disbursing revenue to Investors.

Most operators use only two offset accounts, the JIB Offset and the Revenue Offset account. If you use more than two offset accounts, be sure to keep them in sequence. Normally the beginning offset account is the JIB offset (general ledger number 76320) and the ending offset account is the Revenue Offset (general ledger number 76330). The Transactions by Unit report and Owners Share by Unit report are extremely helpful in checking current month P & L report.

The last close report reflects your position as of the last closing. However, the preliminary report is for a period not yet closed and uses records in the Transaction file to calculate month to date and year to date values. Values are not stored for a Preliminary P & L report.

A Preliminary Company P & L statement uses the current transactions for the specified dates plus the last closed values to calculate values for the Preliminary P & L. The calculated values are erased after the preliminary report has been displayed or printed. To print to file, assign a report name such as PREPL. The extension name of REP will always be supplied for the report name. To print the file later, use the Utilities program. You may obtain a preliminary report prior to closing the month. A preliminary report will state company preliminary income (P & L) statement. Comments are not stored for the Preliminary or Last Close Company P & L.

Recap for Company Interest will check sales, cost of sales and taxes for each unit. The values for these general ledger numbers with a unit are calculated for owners in the DOI file marked "Y" for company interest. 3xxxx, 5xxxx, and 71xxx-75xxx transactions that do not have a unit number will be totaled and listed on the last line of the recap report. General ledger numbers 4xxxx, 76xxx and above are not considered in this report.