How is Net Income calculated in CCH ProSystem fx Engagement or Workpaper Manager?
Net Income is calculated based on how accounts are grouped and how those groups and subgroups are classified.
To see how the groups and subgroups are classified:
- In the binder go to Trial Balance > Account Groupings.
- Or, in the Trial Balance click the Account Groupings button.
- This includes any revenue, income, or expense classification.
There are two items that will dictate what number is shown on the Net Income line:
- Account Grouping.
- Make sure that all accounts are grouped correctly.
- Check groupings in Account Groupings or Chart of Accounts.
- Please review the following Knowledge Base article for more information on how to classify account groupings.