• tomle
  • New member
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  • Registered: 07/06/2015
  • Posts: 6

Topic: Maybe Error? in Profit and Loss Statement

Hi all,

I am confused over the results of Profit and Loss Statement.  When I ran it, it reported the following

=======================================
SALES REVENUE
4020 General Sales 38,167 5,170 946.2
Total SALES REVENUE 38,167 5,170 946.2
Total Income 38,167 5,170 946.2

Costs
PAYROLL EXPENSES
5410 Wages & Salaries 20,497 0 999.0
Total PAYROLL EXPENSES 20,497 0 999.0
Total Costs 20,497 0 999.0
Calculated Return 7,670 5,170 70.2
==========================================

The REVENUE is correct, but I have no PAYROLL EXPENSES.....  Can someone explain to me how those values got there?  I did not enter any Journal Entry at all.

All I did with FA so far is to enter Sale Order, and Customer Payment

Thanks in advance.

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: Maybe Error? in Profit and Loss Statement

PAYROLL EXPENSES is a total field that is the Wages & Salaries A/c balance here.

apmuthu's Website

  • tomle
  • New member
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  • Registered: 07/06/2015
  • Posts: 6

Re: Maybe Error? in Profit and Loss Statement

Ok, but how did it get there?  Is it an automatically calculated fields using the income? 

I did not enter any values for those account, and that is why it confused me.

Thanks

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: Maybe Error? in Profit and Loss Statement

All Total Rows are auto generated.

...
Total SALES REVENUE 38,167 5,170 946.2
Total Income 38,167 5,170 946.2
...
Total PAYROLL EXPENSES 20,497 0 999.0
Total Costs 20,497 0 999.0
Calculated Return 7,670 5,170 70.2

apmuthu's Website

  • tomle
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  • Registered: 07/06/2015
  • Posts: 6

Re: Maybe Error? in Profit and Loss Statement

Why did FA do that?  Isn't it reporting wrong info?  since I did not enter any "Payroll and Expense"

I am not an accountant, but my accountant is also confused.

Thanks

  • From: Vietnam
  • Registered: 09/28/2016
  • Posts: 349

Re: Maybe Error? in Profit and Loss Statement

@tomle Please check if Payroll Expenses Transactions exists or not in the database, I think if you did not make any trans it won't be show

Phuong

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  • From: Kenya
  • Registered: 12/01/2014
  • Posts: 44

Re: Maybe Error? in Profit and Loss Statement

This is a setup issue. You will need to trace it. Go into Banking and General Ledger -> General Ledger Reports -> GL Account Transactions. Set start date to when you first began using FA, then "From account" should be the first account in the payroll account group, "To Account" should be the last payroll account group. Display the accounts and you should see a report with the offending accounts with positive values and which suppliers they are from.

Once you see that, go to the specific invoices and look at the items GL accounts and you will find out that they point to a payroll account. You will need to correct this.

If you set up an accounting package wrong, you will get all kinds of garbage output, and many users dont know that.

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,160

Re: Maybe Error? in Profit and Loss Statement

The standard Chart of Accounts (en_US-demo.sql) has the following account heads. Check for transactions in their equivalents in your CoA.

11 Payroll Expenses
== ============
5410 Wages & Salaries
5420 Wages - Overtime
5430 Benefits - Comp Time
5440 Benefits - Payroll Taxes
5450 Benefits - Workers Comp
5460 Benefits - Pension
5470 Benefits - General Benefits
5510 Inc Tax Exp - Federal
5520 Inc Tax Exp - State
5530 Taxes - Real Estate
5540 Taxes - Personal Property
5550 Taxes - Franchise
5560 Taxes - Foreign Withholding

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