Income Statement

Navi_Learner

Hi Expert, I have a big problem here. For this month when we run the income statement, the numbers are big mess. The amount of freight in and freight out is just opposite and all the numbers of the expenses are all incorrect. I don't know what causes this problem. I really need your experts help and please tell me why it is like this. Urgent!! Appreciate for your help!!

Alex_Chow

Need more information on your problem.

But most problems related to incorrect financials are:
1. Incorrect setup
2. User coding to incorrect accounts during posting
3. User coding to incorrect posting groups on items and resources

You'll need to find a Navision expert in your area to come onsite and resolve this for you if you're not familiar with Navision setups.

themave

I agree with Deadlizard completly, you will need someone to look at this, but one thing to check is in the account schedule setup. there is a field "show opposite sign" this might be checked, thus explaining why your freight numbers are opposite of what you expected.

to check it out, goto Financial Management --> General Ledger --> Analysis & Reporting,

then select Account Schedules and look there

good luck.

Navi_Learner

Thanks for your response! But everything in the balance sheet is correct. Is it still a setup problem?

themave

Each account schedule is different, check the account schedule for the income statement for the show opposite sign I mentioned above

The account schedule is the basic setup that the financial statements use to print the reports

Navi_Learner

Thanks themave. Actually we find problems from Analysis & Reporting, but I can't find a field "show opposite sign".

themave

Navi Learner wrote:

Thanks themave. Actually we find problems from Analysis & Reporting, but I can't find a field "show opposite sign".

the column is normally hidden, in the account schedule,

the account schedule is what the financial statement reports uses to produce the appropriate statements, the one report can produce different financial statements depending on which underlying account schedule is used.

You should be able to open the account schedule and use the lookup button to select the income statment account schedule. The column "Show opposite sign" is normally hidden, you have to show it. But it is a standard field in the account schedule table.

This is not in the actual report, but the underlying account schedule. I lot of people end up trying to edit the financial statement report, not realizing they should be changing the account schedule instead.

Navi_Learner

OK I find this field, but it is not checked

themave

Navi Learner wrote:

OK I find this field, but it is not checked

Ok there is still one more place to look

from the account schedule you are on, click on the function button on the bottom, and select Setup column layouts, this also has the "Show opposite sign" column.

if your balance sheet is correct, then your underlying entries should also be correct, so it should be one of these signs that is causing the report to be the opposite of what you expect.

Navi_Learner

No, it's not checked, either. How the balance sheet is correct, but the income statement is wrong. Besides the fright, all the expenses are all wrong.

Alex_Chow

We can spend hours and hours on this thread and still not get the answer. Is there a reason why you don't want to contact your solution provider?

Navi_Learner

I've solved this problem. Anyway thanks!

Alex_Chow

Navi Learner wrote:

I've solved this problem. Anyway thanks!

Can you let us know what the problem was?

themave

Navi Learner wrote:

I've solved this problem. Anyway thanks!

How, what was is solved? It is always nice to state how it was solve so other can benefit from your knowledge, that is why I contribute here, I get help and I try to return the favor.

Navi_Learner

I didn't view the forum for some time after I posted this problem. Actually the setting is wrong which caused this problem, so I looked into the number series and found the settting is just opposit. Thanks!