Step 3: Select a method for including comprehensive income on financial statements
To select a method for including comprehensive income on financial statements:
- On the Configure General Ledger Settings screen, indicate in Other Comprehensive Income Info whether you want to report on comprehensive income on your income statement or on a separate statement of comprehensive income.
- In Account, select the account to which you want Costpoint to post the offsetting entry for the gain or loss resulting from the revaluation of balance sheet accounts (the account you created in Step 1).
- In FS Line, specify the financial statement line in the balance sheet on which you want to display the OCI amount (the line created in Step 1).