Hi, has anyone came across a Netsuite Comprehensiv...
# accounting
l
Hi, has anyone came across a Netsuite Comprehensive Income Statement requirement? What Is Other Comprehensive Income? In business accounting, other comprehensive income (OCI) includes revenues, expenses, gains, and losses that have yet to be realized and are excluded from net income on an income statement. Can it be built?
j
There is an unrealized gain/loss account of type "Other Expense" that gets auto-created in most accounts (I forget whether it's every account or just ones with multi-currency and/or fixed assets). This is typically used for posting automated currency revaluation entries and the like. Is that what you're referring to? If you're just posting manual entries to it and don't need to hook it into any specific system functionality, you can make whatever kind of account you like.
l
Thanks James, I think indeed the user should just collect information from separate reports for deferred revenues, expenses, gains etc and add those manually in an exported report.