P&L Format - Include Profit, Income Tax and Net Income After Tax

Is there a way to customize the Accounting Statement (Specifically P&L) so it displays in a GAAP format to include the following fields:
Profit / Income Before Taxes(calculated as Income - Expenses)
Income Tax
Net Income (Profit - Income Tax)

As a workaround, I have currently setup the Chart of Accounts to include an Expense (Called Income Tax), so “Profit For The Year” is actually Net Income (after Taxes). We manually add the tax back and calculate the Profit before Taxes. I would like to be able to rename this as Net Income. Is that possible?

Hello,
i am trying to figure out a solution for the same issue. Appreciate if you can advise a solution on this or if you received any reply… thanks a lot

No solution - continue to use a manual report. We have made it easier by grouping all the non deductible expense and taxes into a single group - so that auditor just has to add the group total back. Retained earnings has to match income after taxes - so that remains the same…

thank you very much. really appreciated.