Yep, nomenclature is always an issue. In this case, a relatively recent historical confounding interchange of the terms ‘income’ and ‘revenue’ can lead to some not realizing that report also includes expenses.
I think ‘Income Statement’ is the traditional name of the report, at least that is what is in my Accounting textbook from my college days. (with the traditional formula, “Income = Revenue - Expenses”) These days it is used mostly by individuals, where 'Profit & Loss' is used by businesses, and ‘Statement of Revenue & Expenditures’ is used by non-profits. But unless I’m mistaken, in form, they are all the same. (There are alternate forms for P&L which group revenue categories, and might break-out COGS from Expenses with a separate ’Net Revenue’ line, then go into Expenses, and then sometimes Expenses are grouped by various managerial analysis categories; there is also the ‘profit center’ format, which is another beast entirely, but still technically a P&L) Regards, Adrien > On Mar 20, 2020 w12d80, at 12:34 PM, Michael Hendry > <hendry.mich...@gmail.com> wrote: > >> On 20 Mar 2020, at 17:05, Adrien Monteleone <adrien.montele...@lusfiber.net> >> wrote: >> >> >>> On Mar 20, 2020 w12d80, at 12:01 PM, Michael Hendry >>> <hendry.mich...@gmail.com> wrote: >>> >>> >>> I haven’t looked into it thoroughly, but I don’t think there is an >>> equivalent “experimental” report for Revenue & Expenditure, which would >>> provide the same look-and-feel as the experimental multicolumn balance >>> sheet, so I’ll probably need to remember to update the report selection >>> option in my current multicolumn versions if I make changes to the reports >>> they depend on. >> >> You mean as in a P&L a.k.a. Income Statement? Yes, there is one of those >> also in experimental. > > Of course there is, I missed it! > > When dealing with a charity, "Profit & Loss” is reported as “Revenue & > Expenditure” - I just hadn’t realised that an Income Statement would deal > with Expenditure at the same time! > > Michael _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
