Business and rental income from a P&L (Income Organizer)
Upload profit-and-loss statements in the Income Organizer and Glade creates a business in Case Data, fills the business income calculator, and carries that data into Bankruptcy Schedules — including the master businesses list and Schedule I Business Income Analysis.
Overview
For clients with a business, profession, or farm, income often arrives as P&Ls rather than paystubs. Add a business, profession, or farm income source, upload one or more P&Ls, and Glade extracts the figures, creates the matching business in Case Data, and keeps the Income Organizer, business income calculator, and bankruptcy schedules in sync.
Wage paystubs still follow Collecting Paystubs (Income Organizer). Use the business income source type for P&Ls — not a wage paystub slot.
How It Works
- Open the Income Organizer on the case and add an income source.
- Choose business, profession, or farm. Enter the basics (for example, who owns it, ownership type such as sole proprietorship, and the business name).
- Upload profit and loss statements for that source. You can add several P&Ls at once.
- Wait for Glade to evaluate and extract. Statements are reviewed for approval, then analyzed so line items populate Table view.
- Open Table view to review extracted data. Click a P&L to view the statement. Edit lines anytime (net revenue, cost of sales, and other amounts) when you have better information.
- Check the business income calculator for that business — the same family of tools as the Schedule I and Means Test calculators. It gathers the values that feed Schedule I.
- Confirm in Case Data → Businesses and rentals if you need the raw P&L data. Day to day, most work stays in the Income Organizer; Case Data is there when you need direct access to what came out of the statements.
- Open Bankruptcy Schedules. The business appears in the master businesses list (Part 3). Under Schedule I, Business Income Analysis shows the figures from the business income calculator. Edit there if needed — the starting data flowed in from the Income Organizer.
Key Details
- Adding the business income source and uploading P&Ls creates the Case Data business; you do not need to recreate it from scratch for the base flow.
- Multiple P&Ls can sit on one business income source.
- Edits in Table view update what the business income calculator uses.
- Case Data → Businesses and rentals holds the same P&L-derived records for review or edits when you need them outside the organizer.
- Bankruptcy Schedules show businesses in Part 3 and Business Income Analysis under Schedule I, sourced from the Income Organizer / calculator.
- Ordinary employment paystubs, YTD mode, and Means Test pay selection remain in Collecting Paystubs (Income Organizer) and related articles.
FAQ
Q: Where should I work day to day — Income Organizer or Case Data?
A: Use the Income Organizer for collecting P&Ls, reviewing extraction, and the business income calculator. Open Case Data → Businesses and rentals when you need the raw statement data directly.
Q: Can I fix amounts after extraction?
A: Yes. Open the P&L from Table view (or Case Data) and edit lines such as net revenue or cost of sales. The business income calculator and schedule analysis pick up those values.
Q: Where does this show in Bankruptcy Schedules?
A: In the master businesses list (Part 3) and in Schedule I under Business Income Analysis, using data from the business income calculator.
Q: Is this the same as uploading paystubs?
A: No. Paystubs are for wage employment sources. P&Ls use the business, profession, or farm income source type and feed the business income calculator and Schedule I business analysis.
Q: Statements still say they are being analyzed.
A: Give extraction a moment, then refresh Table view. Approval can be quick when statements match expected patterns; analysis into the table can take a little longer.