Workpapers - Option to split P&L into specific category workpapers
If you're going to separate out the P&L into 5 different workpapers:
Revenue
Cost of Goods Sold
Expenses
Motor Vehicle Expenses
Wages
Perhaps it might be better doing it this way:
Trading Statement - this includes trading revenue and cost of goods sold and showing a gross profit
Profit & Loss - this includes everything other then the trading statement and shows a Net Profit - perhaps with the gross profit included as a formula entry from the trading statement. So it might show other revenue that is not included in the trading statement (interest, profit on sale of assets etc)
I'm not sure what the purpose is of separating out something like Wages actually is - I suppose it's probably so you can have a separate checklist?
At the moment these workpapers are purely an indexing system as you don't have any actual workpapers in them - we are providing our own reconciled workpapers to attach or hyperlink too.
Until you have actual workpaper templates for us to use - separating out things like wages or motor vehicle expenses doesn't give us much.
I assume you've separated them out as these workpaper templates are being developed.
Stephen Healy
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