JZ032 How do I insert schedules into the Jazzit financial statements and link the schedule to the Income Statement?
The Jazzit financial statements can include up to 30 schedules. The schedules support a variety of formats including:
1-2 Year Income Statement
1-9 Column Income Statement with budget
Generic 9 column with subtotals
Partners’ taxable income
Manufacturing cost of sales
Property, plant & equipment
Analysis of sales and gross profit
Depending on which format is selected you will be presented with a number of options to link the schedule’s totals to either the Balance Sheet or Income Statement.
Inserting a schedule
Perform the following steps to insert a schedule:
Open the Jazzit financial statements and scroll to the Statement menu.
Click on Insert schedule from Resource Centre this will open the Knowledge Library window. Check off any of the schedules that are numbered 1-20.
Click on the OK button. The schedule will insert at the bottom of the financial statements.
Jump to the newly inserted schedule by double-clicking on its entry in the Statement menu. Select the appropriate schedule format using the drop-down presented.
Depending on the format selected you may need to manually populate the schedule with the required line items and amounts.
Linking schedule to the financial statements
Depending on which schedule you select, you will be presented with a number of options to link the schedule totals to the Balance Sheet or Income Statement. These options are found just below the schedule heading.
Net added/subtracted: The grand total of the schedule is transferred to the specified financial statement section. For example, Net added to cost of sales will transfer the schedule’s grand total to the COGS section of the Income Statement.
Operations: Available only for 1-2 Year Income Statement and 1-9 Column Income Statement with budget. The totals on each section of the schedule are transferred to its corresponding section in the main Income Statement. In the example below Trade Sales and COGS totals from the schedule are transferred to the corresponding sections of the Income Statement.
Schedule amounts transfer to the Income Statement.
Exclude from statements (Income Statement): Schedules totals are not transferred to the Balance Sheet or Income Statement.
Additional features
Include schedules only: When a schedule balance is transferred to a section in the Income Statement, that section will have an option to ‘Include schedules only’. This will remove every line item in a section except the balances transferred from schedules. This is more convenient than having to remove the line items individually. Right-click on theexpress menu to access this option
