COPYRIGHT © 2007 Thomson South-Western, a part of The Thomson Corporation. Thomson, the Star logo, and South-Western are trademarks used herein under license.

2007

Glenn Owen

Using Peachtree Complete for Accounting1st EditionGlenn Owen

Chapter ThreePreparing an Income Statement and

Statement of Retained Earnings Using Peachtree

Using Peachtree Complete 2007 for Accounting, 1st edition 2

Chapter 3Income Statement

Revenues

Expenses

A specific period

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Chapter 3To create and print a standard Income/earnings income statement

Open the file Set the date. Click Reports and then click Financial Statements. Double-click <Standard> Income/Earnings. Be sure the Print Page Numbers and Show Zero

Amounts check boxes are unchecked. Click OK. The resulting combined income and

retained earnings Click Print from the button bar and then click OK to

print this report.

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Chapter 3Financial Statement Wizard

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Chapter 3Basic and ComparativeIncome Statement

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Chapter 3Adding a Percentage to an Income Statement

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Chapter 3Investigating Revenues

Note that the Trans Description column is truncated (shortened) and thus not all text can be read.

Note the balances are all showing negative. That’s because they’re credits!

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Chapter 3Printing the Income Statement

Click Setup from the button bar, choose Landscape Orientation, and then click OK.

If the report still won’t fit on one page, change the column size of the Ref column, the Debit Amt, and the Credit Amt columns until the dotted blue vertical line on the right side of the screen disappears indicating the report will fit on one page.

Click Print on the button bar and then click OK in the print window to print this resized report.

Click Close to close this window but don’t save the changes. Alternatively, Peachtree lets you turn off the truncating feature for

this report thereby wrapping text around a column. Reopen the general ledger report for a revenue account (Design

and Planning), click Options from the button bar. Uncheck the Truncate Transaction Description check box and then

click OK. Click Print on the button bar to print this reconfigured report.