I don't want to use Department or Items for this.
# generalc
Cameron
03/29/2022, 5:14 PMI don't want to use Department or Items for this.
j
James Morris
03/29/2022, 6:09 PMI'm assuming your EBITA add back is tied to a GL account, yes? Just use the account number then.
c
Cameron
03/29/2022, 6:11 PMNo. For example we have legal expenses that we treat as one-time expenses related to corporate structuring. We post this to the Legal expense GL (along with our recurring legal fees). I'd like to designate those one-time corporate structure fees as "Add-back" and pull just those items into another line.
I don't want to create a new GL for each time this happens so was hoping we could just use a custom field in the reporting.
Cameron
03/29/2022, 6:13 PMRight now we handle any pro-forma reporting manually but would really like to get stuff into NetSuite so in 12 months when we are doing comparatives we can quickly see what was causing large variances into particular GL accounts... prevent us from doing the research twice, etc.
Cameron
03/29/2022, 6:13 PMHopefully at least the reasoning makes sense!
j
James Morris
03/29/2022, 6:18 PMYou might want to talk to your accountant, but that's not how I usually see it done. Typically things that are explicitly broken out in the Income Statement, Balance Sheet or EBITA have their own GL account associated with them. Otherwise how can you be sure you're capturing the relevant items, without your auditors having to look over all your segmentation in detail. So in your scenario, I would usually see an 8XXX or 9XXX account entitled something like "One-time Corporate Structure Fees". Otherwise you're going to show that account on your Income Statement and it's going to look like ongoing expenses.
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