Profit and Loss - Advanced
The Profit and Loss - Advanced workbook shows a full income statement with actual vs. budget figures and percentage of revenue metrics for four comparison views: month-to-date for the current year, month-to-date for the prior year, year-to-date for the current year, and year-to-date for the prior year. Having all four side by side makes it possible to compare current period performance against the prior year and across both a period and a full year-to-date view.
Selection page
When you open the workbook, the Selection Page appears before the profit and loss statement loads. Fiscal Year, Fiscal Period, and Budget are required fields and must be completed before you can proceed. All other filters are optional and help you narrow the results.
- Company: the company to report on.
- Fiscal Year: the fiscal year the report covers. (required)
- Fiscal Period: the period within that fiscal year used as the cutoff. (required)
- Budget: the budget to compare against actual amounts. (required)
- Segment 02
- Segment 03
- Segment 04
- Segment 05
- Segment 06
Advanced report
The report follows the same income statement structure as the basic version, from gross profit down to net income. Results are presented across four column blocks, each showing the same six columns.
The four blocks are Month to Date (current year), Month to Date (prior year), Year to Date (current year), and Year to Date (prior year). Each block contains:
- Actual: posted amount for each account for the period.
- % of Rev (actual): actual amount expressed as a percentage of total revenue, calculated as (Actual / Total Revenue) × 100.
- Budget: budgeted amount for the same period.
- % of Rev (budget): budget amount expressed as a percentage of total revenue, calculated as (Budget / Total Revenue) × 100.
- Var $: dollar difference between actual and budget, calculated as Actual minus Budget.
- Var %: percentage difference between actual and budget, calculated as (Var $ / Budget) × 100.
Mapping
The balance sheet is organized into sections such as Current Assets, Fixed Assets, Liabilities, and Equity. Each section is linked to a Sage 100 Account Group, which determines which accounts appear in that section and how totals are calculated. You typically only need to update this mapping if your Sage 100 account groups differ from the default setup, for example if you use different group IDs, have renamed your financial statement groups, or notice accounts appearing in the wrong section.
| Account Group Description | Account Group Code |
|---|---|
| Revenue | 400 |
| Cost of Sales | 450 |
| Operating Expenses - Central | 500 |
| Operating Expenses | 600 |
| General & Administrative | 700 |
| Other Income & Expense | 950 |
| Provision for Income Taxes | 990 |
| Cost of Goods Sold | 450 |
| Current Assets | 000 |
| Current Liabilities | 200 |
| Equity | 300 |
| General & Administrative Expenses | 700 |