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nrb120349
Level 1

Description of major account groups

The account group "Other Income/Expense" nets to a bottom line of "Other Income" and omits the word "Expense" from the net total.  If expenses exceed income, it is misleading.  How can I fix that?

2 Comments 2
BigRedConsulting
Community Champion

Description of major account groups

You can't change the grouping labels in QuickBooks.

 

The Net Other Income label mirrors the Net Ordinary Income and Net Income labels. In all cases, if the number is negative, you lost money and if positive, you gained money for that category.

 

For example, in each of the two sub-totals and the total for the P&L below, there is a loss, labeled "...Income", but since the amount is negative, a loss is understood.  Generally "Net Income" is understood to be less than 0.00 if the number is negative.

 

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nrb120349
Level 1

Description of major account groups

Thanks.  I understand the concept you describe, but I just find it odd that the program doesn't use the same terminology for the footer that it does for the header.

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