JAZZIT FUNDAMENTALS HELP GUIDE
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Income Statement (2 Year with % Format)
 
Income Statement (2 Year with % Format)
 
* the above screenshot was taken with the display option set to show Printing lines for illustration purposes. We recommend the default display option is set to Show all lines when drafting the financial statements.
 
1
Income statement title
1. Income statement title
Use the popup menu to choose an alternative name for the Income Statement. The selection you make will be updated in the Engagement Report, Letters and wherever the Income Statement title appears. The title will change depending on the structure selected under the Client profile section of the Home Menu, i.e. Not for Profit = Statement of Revenues and Expenditures. Additional naming choices can also be found in the Page options section of the Home Menu. You can also override the default description manually if your choice of description is not available.
 
 
When you choose a prefix for the statements (i.e. consolidated, proforma, etc.) in the Page options section of the Home Menu, this prefix will automatically appear before the Income Statement name.
2
Optional foreign exchange heading
2. Optional foreign exchange heading
The foreign exchange heading pulls from the selections made in Columns section of the Home Menu. Double-click on the cell to jump to the Home Menu.
3
Statement year end date
3. Statement year end date
The statement year end date is automatically calculated based on the reporting dates set in the Engagement Properties dialog. Use the popup menu to display an alternative date format.
4
Unaudited or Audited description
4. Unaudited or Audited description
The description will change depending on the engagement type selected in the Home Menu.
5
Statement settings
5. Statement settings
The statement settings provide additional options for the Income Statement.
 
 
Statement title: Use the popup menu to choose an alternative statement name or manually enter the name in the input field. The statement name changes depending on the type of structure selected in the Client Profile section of the Home Menu.
Entity: Use the popup menu to select an entity to report on. Entities need to be added in Consolidate dialog in CaseWare. The statements are defaulted to the top-level entity.
Include Statement of Comprehensive Income statement at the bottom of this statement: You can choose to show the Statement of Comprehensive income at the bottom of the Income Statements. You also have the option to insert the Statement of Comprehensive Income as a separate schedule. Refer to Inserting Schedules into the Jazzit financial statements for more information on creating schedules.
Display maps: Use the popup menu to select to show KLIB maps only, or if you have also copied in the farming map numbers into your client file, you can choose to show the KLIB and FRMLIB map numbers on the Income Statement.
Profit or loss referred to as: Select from the dropdown how you would the profit or loss wording to appear throughout the statement
Gross profit % : Select if you would like to show the gross profit percentage in the statement and to how many decimal points
6
Heading formatting
6. Heading formatting
The headings for the Income Statement can be formatted. Refer to Statement Section Headings Formatting for more information on the options available.
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Show/hide rounding
7. Show/hide rounding
Click on this button to show/hide the statement Rounding options.
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Jump to notes
8. Jump to notes
Click on this button to jump to the top of the notes to the financial statements.
9
GIFI
9. GIFI
The GIFI code for each line item is shown. Double-click on the GIFI code to see which accounts are linked to that code. You can set the GIFI column to Display and print, Hide or Display in the Display section of the Home Menu.
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Leadsheet
10. Leadsheet
The leadsheet group for each line item is shown. Double-click on the leadsheet number to see which accounts are linked to that leadsheet. You can set the GIFI column to Display and print, Hide or Display in the Display section of the Home Menu.
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Help guide
11. Help guide
Click on this button to learn more about the Income Statement settings.
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Column headings
12. Column headings
The column headings appear at the top of the Income Statement. The content of the first two rows are generated from the Engagement Properties settings in CaseWare and the Short year section of the Home Menu. The cells can also be manually overridden if necessary.
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Show heading if single line
13. Show heading if single line
If a section only shows one line item it will print as a single line (total) by default. Check off the check box to show the section heading.
 
 
14
Section headings
14. Section headings
Use the popup menu to select an alternative section heading or type in your own description in the input cell.
15
Line item description
15. Line item description
The line item description is populated from the map number description. Refer to Change a line description for information on the best way to change the description if needed.
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Balance origin
16. Balance origin
If you would like to know where a balance is coming from, review the link information on the right side of each line. Refer to Balance origin for more information.
17
Note number reference
17. Note number reference
The note number reference indicates which note is attached to the line item. Click on the note number to jump to the referenced note. A {N#} reference either indicates that the referenced note is turned off or that there is no note assigned. Refer to Changing or adding note number references in the statements to learn more about changing or adding note references.
18
Gross profit %
18. Gross profit %
You can set the gross profit percentage to show or hide in the Page options section of the Home Menu.
19
Fees income or Fees expenses
19. Fees income or Fees expenses
When you switch between income and expense by clicking on the button, you will see the heading for the section change and the balances within that section may appear with brackets or not depending on what you have chosen.
20
Printed line(s)
20. Printed line(s)
Lines that will be printing as part of the financial statements appear in black. Blue lines will not print.
21
Print/Skip row
21. Print/Skip row
Use the popup menu to choose to skip or print a line item.
22
Other income or Other expenses
22. Other income or Other expenses
When you switch between Other income and Other expense by clicking on the button, you will see the heading for the section change and the balances within that section may appear with brackets or not depending on what you have chosen.
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Other income statements items
23. Other income statements items
  • EBITA: Calculates automatically using the calculation as shown in the tool tip on the current and or prior year cells. You can override this value if desired. Be sure to select Print on the right side so that the line will print on your financial statements.
  • EPS: The value is not calculated and must be input. Choose to show the value with either two or three decimal points. Once there is a value in the current or prior year cells the line will print.
  • Weighted Average Shares Outstanding: Like the EPS, the value must be input. Once there is a value in the current or prior year the line will print.