Profit & Loss Reporting by Department
This Solution describes the tracking of multiple profit centers within one Company File, using the Department tag on transactions. (3227)
Big Business includes the ability generate Departmentalized Profit & Loss Statements, allowing you to track multiple profit centers. By tagging each and every transaction which impacts a particular profit center with a Department tag, you enable the Bookkeeper, "Profit & Loss Statement by Department" Report to isolate that department's activity.
To create the necessary Department tags:
1. On any transaction, select Show List from the Department Pull-Down menu.
2. Type a Department name in the Add to Department List field.
3. Click the Add button.
When entering transactions, enter the beginning of the Department name, and Big Business will fill in the Department or open the Show List window. By using unique beginnings to Department names, you can simplify your data entry to just a few characters for filling in the Department. Use "Sales-ABC" and "Service-ABC," rather than "ABC Sales" and "ABC Service."
To check that all transactions have been assigned a Department:
• Check that your various Departmental Profit & Loss Statements add up to the comprehensive Profit & Loss Statement.
• Use QuickSeaches for transactions. By searching for "Department is...(blank)" you can find those transactions that did not have a Department assigned.
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