--- title: Create a New Income Statement Layout description: In this blog, I will walk you through some steps that will consolidate the GL accounts on your Income Statement. --- [Blog | NetSuite | Concentrus](https://blog.concentrus.com) # [Create a New Income Statement Layout](https://blog.concentrus.com/create-a-new-income-statement-layout) Written by [Justin Myung, Consultant](https://blog.concentrus.com/author/justin-myung-consultant) | Nov 22, 2022 9:50:46 PM Is your Income Statement in need of a face lift?  If you are not able to over-haul your Chart of Accounts, you can update your Income Statement Layout directly in NetSuite.  I will walk you through some steps that will consolidate the GL accounts on your Income Statement.  From this walk through, you should have enough information for you to customize your own report.   First, let’s open a native NetSuite Income Statement.  - - - Navigate to > Reports > Financial > **Income Statement ** - - Before I make any customizations, in my example, my Income Statement looks like the below:  - - - - - What I will try to accomplish is a simpler Income Statement that will end up looking closer to this format: - - - On your Income Statement, click **Customize ** - Enter a new name for your report.  In my example, I named it “Summary Income Statement”  - Then click **Save ** - Click “**Return to Customization**” button  Note: On the Edit Layout Tab you will see 2 sections:  - - The LAYOUT which is on the left and   - The settings for each row on the LAYOUT  -   -   - On the left section (LAYOUT)  - - Using the Dropdown, select **Add Financial Section**   - - - - - On the pop-up box select **CREATE NEW SECTION** then click **OK **   - - - - - On the HEADER LABEL enter **Net Sales**  - On the TOTAL LABEL, ***uncheck*** the **DISPLAY ROW ** - On the DISPLAY, change to **Can not Expand ** - On the Section sub-tab, add Account Type filter, and select **Income ** - The Net Sales section should look like this below:    - - - On the left section (LAYOUT)  - - Using the Dropdown, select **Add Financial Section ** - On the pop-up box select **CREATE NEW SECTION** then click **OK ** - On the HEADER LABEL enter **Cost of Sales**  - On the TOTAL LABEL, ***uncheck*** the **DISPLAY ROW** - On the DISPLAY, change to **Can not Expand ** - On the Section sub-tab, add Account Type filter, and select **Cost of Goods Sold**  - Select the Format sub-tab, and then select **REVERSE** **SIGN** on the **Account** **Row** **Format** Sub-section  - -   -   - If your Cost of Sales section is above Sales, drag the Cost of Sales below Net Sales                   →      - - - On the left section (LAYOUT)  - - Select Ordinary Income/Expense (selecting this to insert above) then  - Using the Dropdown, select **Add Formula Row ** - On the FORMULA LABEL enter **Gross Profit ** - On the Formula section – First Row:  1. 1. On Type Column, select **Row ** 2. On Value Column, select **Net Sales ** 3. Click **OK ** - On the Formula section – Second Row:  - 1. On Operator, select the minus sign (**-**)  2. On Type Column, select **Row ** 3. On Value Column, select **Cost of Sales**   - - - On the left section (LAYOUT)  - - Select Ordinary Income/Expense (selecting this to insert above) then  - Using the Dropdown, select **Add Financial Section ** - On the pop-up box select **CREATE NEW SECTION** then click **OK ** - On the HEADER LABEL enter **Selling, general and administrative expenses**  - On the TOTAL LABEL, ***uncheck*** the **DISPLAY** **ROW ** - On the DISPLAY, change to **Can** **not Expand ** - On the Section sub-tab (there will be more than one filter:  1. 1. Add Account *Type* filter and select **is** **Expense ** 2. *Note: On the next filters, your account #’s will be different from my example.  Select your account #’s that are related to Interest, Depreciation, Amortization and Income Taxes to **Exclude *** 3. On my example only:  1. 1. Add *Account* *Number* and select **is not** 6810  2. Add *Account* *Number* and select **is** **not** 6880  3. Add *Account* *Number* and select **is** **not** 8010  4. Add *Account* *Number* and select **is** **not** 8030  - Select the Format sub-tab, and then select **REVERSE** **SIGN** on the **Account** **Row** **Format** Sub-section    - - - On the left section (LAYOUT)  - - Select Ordinary Income/Expense (selecting this to insert above) then  - Using the Dropdown, select **Add Financial Section**  - On the pop-up box select **CREATE NEW SECTION** then click **OK**  - On the HEADER LABEL enter **Depreciation & Amortization ** - On the TOTAL LABEL, ***uncheck*** the **DISPLAY ROW ** - On the DISPLAY, change to **Can** **not** **Expand ** - On the Section sub-tab (there will be more than one filter:  1. 1. Select **USE** **EXPRESSIONS**.  ***Use Or expression when you want to include more than one account.  *** 2. *Note: On the next filters, your account #’s will be different from my example.  Select your account #’s that are related to Depreciation and Amortization * 3. On my example only:  1. 1. Add *Account* *Number* and select **is** 6810  1. - Then change expression to **Or ** 2. Add *Account* *Number* and select **is** 6880  - - - - - Select the Format sub-tab, and then select **REVERSE** **SIGN** on the **Account** **Row** **Format** Sub-section  -   -   - On the left section (LAYOUT)  - - Select Ordinary Income/Expense (selecting this to insert above) then  - Using the Dropdown, select **Add** **Formula** **Row ** - On the FORMULA LABEL enter **Operating** **Income ** - On the Formula section – First Row:  1. 1. On Type Column, select **Row ** 2. On Value Column, select **Gross** **Profit ** 3. Click **OK ** - On the Formula section – Second Row:  1. 1. On Operator, select the minus sign (**-**)  2. On Type Column, select **Row ** 3. On Value Column, select **Selling, general and administrative expenses ** 4. Click **OK ** - On the Formula section – Third Row:  - 1. On Operator, select the minus sign (-)  2. On Type Column, select **Row ** 3. On Value Column, select **Depreciation** **& Amortization ** 4. Click **OK**  - - - On the left section (LAYOUT)  - - Select Ordinary Income/Expense (selecting this to insert above) then  - Using the Dropdown, select **Add Text Row**  - On the TEXT field enter **Other expense ** -   -   - On the left section (LAYOUT)  - - Select Ordinary Income/Expense (selecting this to insert above) then  - Using the Dropdown, select **Add Financial Section ** - On the pop-up box select **CREATE** **NEW** **SECTION** then click **OK ** - On the HEADER LABEL enter **Interest ** - On the TOTAL LABEL, uncheck the **DISPLAY** **ROW ** - On the DISPLAY, change to **Can** **not** **Expand ** - On the Section sub-tab (there will be more than one filter:  1. 1. *Note: On the next filters, your account #’s will be different from my example.  Select your account #’s that are related to Interest * 2. On my example only:  1. 1. Add *Account* *Number* and select **is** 8010  - Select the Format sub-tab, and then select **REVERSE** **SIGN** on the **Account** **Row** Format Sub-section  1. 1. *Note above: Only Reverse the sign if the interest is an Expense type or Other Expense Type.  Do not mix Other Expense with Other Income Types*   - - - *On the left section (LAYOUT) * - - Select Ordinary Income/Expense (selecting this to insert above) then  - Using the Dropdown, select **Add Formula Row ** - On the FORMULA LABEL enter **Income before income tax expense ** - On the Formula section – First Row:  1. 1. On Type Column, select **Row ** 2. On Value Column, select **Operating** **Income ** 3. Click **OK ** - On the Formula section – Second Row:  - 1. On Operator, select the minus sign (**-**)  2. On Type Column, select **Row ** 3. On Value Column, select **Interest ** 4. Click **OK **   - - - On the left section (LAYOUT)  - - Select Ordinary Income/Expense (selecting this to insert above) then  - Using the Dropdown, select **Add Financial Section**  - On the pop-up box select **CREATE NEW SECTION** then click **OK**  - On the HEADER LABEL enter **Income Tax Expense**  - On the TOTAL LABEL, ***uncheck*** the **DISPLAY ROW**  - On the DISPLAY, change to **Can not Expand**  - On the Section sub-tab (there will be more than one filter:  1. 1. *Note: On the next filters, your account #’s will be different from my example.  Select your account #’s that are related to Income taxes * 2. On my example only:  1. 1. Add *Account Number* and select **is** 8030  - Select the Format sub-tab, and then select **REVERSE SIGN** on the **Account** **Row Format** Sub-section  - 1. *Note above: Only Reverse the sign if the interest is an Expense type or Other Expense Type.  Do not mix Other Expense with Other Income Types *   - - - On the left section (LAYOUT)  - - Select Ordinary Income/Expense (selecting this to insert above) then  - Using the Dropdown, select **Add Formula Row**  - On the FORMULA LABEL enter **Net Income**  - On the Formula section – First Row:  1. 1. On Type Column, select **Row**  2. On Value Column, select **Income before income tax expense**  3. Click **OK**  - On the Formula section – Second Row:  - 1. On Operator, select the minus sign (**-**)  2. On Type Column, select **Row**  3. On Value Column, select **Income Tax Expense**  4. Click **OK**  - Click **Save**    Your Income Statement should look similar to this:  You will notice there are 2 Net Income’s.  That is because we did not remove any of the original layouts from the standard Income Statement.  I find this to be a good way to ensure all accounts are not missing in your custom layout.      Let’s remove the last Net Income.  - - - Go back to Return to Customization  - On the left section (LAYOUT)  - - Find the last **Net** **Income** section and select it.  - Next click on the “X”.  It is next to the Add Row/Section… drop down   - - - - - Click **Save **   If you found this blog helpful, you can find more content or blogs regarding NetSuite customizations and How-To’s at https://blog.concentrus.com/.  If you need any help with customizing reports and saved searches, feel free to contact Concentrus.  Our consultants would be happy to guide you through the process.        **About**** Us**   Concentrus is a complete NetSuite solutions provider that guides organizations through how to use NetSuite to reach highly focused business goals and objectives. We provide NetSuite implementation, developer, integration, and customization services to ensure that you have a long-term solution that is tailored to fit your systems, people, and processes.   Read About Our [Implementation Methodology](https://www.concentrus.com/implementation-methodology/)   Want more NetSuite Tips and Tricks? Check out our [Short & 'Suite ](https://www.youtube.com/watch?v=HRe7GRtT_-M)[videos](https://www.youtube.com/watch?v=HRe7GRtT_-M)     [View full post](https://blog.concentrus.com/create-a-new-income-statement-layout) ```json { "@context" : "http://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Justin Myung, Consultant" }, "dateModified" : "2022-11-22T21:50:46.087Z", "datePublished" : "2022-11-22T21:50:46Z", "headline" : "Create a New Income Statement Layout", "image" : { "@type" : "ImageObject", "height" : 3507, "url" : "https://3865431.fs1.hubspotusercontent-na1.net/hubfs/3865431/pexels-tiger-lily-7109277.jpg", "width" : 5260 }, "mainEntityOfPage" : "https://blog.concentrus.com/create-a-new-income-statement-layout", "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "height" : 60, "url" : "/hs/hsstatic/content_shared_assets/static-1.4092/img/default-amp-logo.png", "width" : 60 }, "name" : "Concentrus Blog" } } ```