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#53597 - 06/06/18 12:52 AM How is Net Income (Loss) Calculated in Sage 300 TB
Seisa Tjela

Registered: 03/21/05
Posts: 618
Loc: Lesotho; Southern Africa
Please excuse my accounting ignorance here.

Why is it that when you extract a Trial Balance selecting only the Income Statement accounts it does not balance; even when you include the figure reported as "Net Income (Loss)"?

What really constitutes the "Net Income (Loss) for Accounts Listed" in Trial Balance?

"The greatest test of courage on earth is to bear defeat without losing heart."

#53598 - 06/06/18 02:43 AM Re: How is Net Income (Loss) Calculated in Sage 300 TB [Re: Seisa Tjela]
Jay Converse Administrator

Registered: 07/31/00
Posts: 7767
Loc: Location, Location
Because that's how it works. It's GAAP.
Jay Converse
Sage 300 Whisperer

#53599 - 06/07/18 10:53 AM Re: How is Net Income (Loss) Calculated in Sage 300 TB [Re: Jay Converse]
Douglas Dickie

Registered: 07/20/00
Posts: 937
Loc: Langley, BC Canada
Double entry accounting Debit and Credit only balance when you print the entire range of accounts, Balance Sheet and Income Statement.

Thing sales (income statement account) on account (balance sheet account)
Douglas Dickie
AccSys Solutions Inc.

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