Statement of unrealised income
Statement Purpose
This statement provides a summary of any receivables, unrealised gains/losses for the income year.
Data Flow
The receivables, unrealised income/loss amounts are linked from various statements.
Revenue loss carried forward amounts will automatically transfer from
Revenue Losses
statement. Any unused revenue loss from Revenue Losses
will be displayed in this row. This will offset the total unrealised gains for the year.If there are any non-deductible expenses amount from
Other Income and Expenses
, it will be transferred onto this statement and displayed.Any trust distribution receivable not recognised in current year from
Distribution Entitlement Summary
will be included in this statement.If there are any prior year carried forward amount that needs to be recorded, it will need to be manually input in this statement.
Current year amounts will roll forward to next year.
Explanation of Fields
This summary worksheet provides an overview of the tax value for any receivables and unrealised income gain or losses for current and prior year.
Amount
– The tax value for the year of any unrealised income gain or loss for the current year. Some of these income will depend on the selection made in Calculation setup
which is either accounting or tax.Prior year
– This is the prior year tax value which is manually entered in the first year. This value will roll forward to subsequent year.Signage
- Opening balances and increases in loss amounts are positive amounts.
- Decreases in loss amounts are negative.