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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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'mselect: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
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.
Hello, Does anyone have some sample balance sheet data I could use to build a BS report. Nothing in pigment academy shows how to build balance sheet repot. I believe I could use a table to show A, L, and SE. But did not know if it makes sense to have the monthly change in assets. Usually you wouldn't look at that as it is a snap shot in time.
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