Is there a way to pull an income statements Net Income into a Balance formula? Another alternative would be to somehow calculate net income. What would be the best way to do that?
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Harry Lewisposted
1 day ago
To my knowledge, Intacct does not include a Net Income GL account. Thus, the second method could be used.
For example, I created a list of all of my Revenue accounts and all of my Expense accounts.
I then used a combination of Velixo and Excel functionality:
This is a fairly simplistic example (in a real-world scenario, there may be revenue or expenses that should not be used in the calculation), but you get the basic idea.
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Eonwashingtonposted
1 day ago
We are using Intacct.
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H
Harry Lewisposted
1 day ago
The method would depend on the ERP being accessed. For ERPs which include a "Net Income" GL account, it is a simple matter of retrieving the balance of that account. For ERPs which do not include such an account, you could retrieve the balance of all the revenue accounts (using either a list of account numbers or a range of account numbers: Filtering techniques for use with many Velixo functions : Velixo Help Center ) and then subtract the retrieved balance of the expense accounts.
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Is there a way to pull an income statements Net Income into a Balance formula? Another alternative would be to somehow calculate net income. What would be the best way to do that?
0 Votes
3 Comments
Harry Lewis posted 1 day ago
To my knowledge, Intacct does not include a Net Income GL account. Thus, the second method could be used.
For example, I created a list of all of my Revenue accounts and all of my Expense accounts.
I then used a combination of Velixo and Excel functionality:
This is a fairly simplistic example (in a real-world scenario, there may be revenue or expenses that should not be used in the calculation), but you get the basic idea.
0 Votes
Eonwashington posted 1 day ago
We are using Intacct.
0 Votes
Harry Lewis posted 1 day ago
The method would depend on the ERP being accessed. For ERPs which include a "Net Income" GL account, it is a simple matter of retrieving the balance of that account. For ERPs which do not include such an account, you could retrieve the balance of all the revenue accounts (using either a list of account numbers or a range of account numbers: Filtering techniques for use with many Velixo functions : Velixo Help Center ) and then subtract the retrieved balance of the expense accounts.
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