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Balance Sheet: Net Income

  • 8 August 2022
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Which formula can I use for Net Income at my balance sheet in the begging of the year where I need to transfer all Net income to Retained earnings / losses and start accumulate again? See below an example.

 

I read this article below but I couldn’t understand:

 

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Best answer by Nathan 10 August 2022, 22:27

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Hi Carolina, Just a quick note to say we have seen your  question and are working on the response. Please stay tuned!

Userlevel 4
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Hi Carolina, nice to see you here :)

 

Here’s one way you can do it:

The formula is:
previous(Month)+if(Month.'Month of Year'.'First Month of FY','CY Net Income'[select:Month-1])

 The second part meaning “if it is the first period of the year then take the net income of the previous period

Then adding previous(Month) allows that value to be added to the past years calculations.

 

hope this helps

 

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Forgot to explain one thing:

 

Month.’Month of Year’.’First Month of FY’ makes a reference to the property First Month of FY as below, which is a property of ‘Month of Year’ which itself is a property of Month.

 

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