Profit & Loss - Show dividends/distribution/Income tax after net profit
Standard layout, which is the one that clients generate and use to check their profits, shows dividends paid, Income tax expense or distributions. This makes the client very confused as these are not part of the operating expenses. Clients do not need to know how to edit or prepare a new layout to take these expenses out. Also, we as accountants can't customize P&L for each of our clients.
This needs to be address urgently.
Karina Duk
shared this idea
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Victoria Willment
commented
Dividends
When the new year starts the dividends could clear out with the profit and loss items.
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Julie Branham
commented
Agreed. Dividends are part of the appropriation of a company's profit. This is basic stuff - an essential rather than a "nice to have". You shouldn't have to customise a report to show dividends in the right place!
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Nigel Halsey-Watson
commented
Just simply critical to accountants, even SAGE do this better
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Rani Walsh
commented
This is a function that Xero has historically had. The new reporting system has not advanced this for clients but overally made their reporting not useful nor accurate.
It is a must have deafult or functionality that can be added across the client base for an accountant. Beautiful accounting is worth nothing if the figures are providing an incorrect summary for the small business client. -
Syed Zaidi
commented
Profit and Loss account should be layout as per standards. Dividends and Corporation tax should be at the end of the report after PBIT. and Dividends after Profit after tax. Once report is set out, it should be copied to all client in one go.
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Dean Ainslie
commented
You can do this if you edit the layout.
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Debbie Maurantonio
commented
Would like dividends to be shown after net profit after tax & not as an overhead in the P & L a/c