An income statement is used for both financial analysis (to show how the earnings (revenue) and the amount you have spent (expenses) on the Balance Sheet were arrived at and over what period of time) and performance management purposes (total profit or loss). It is normally printed at the end of an accounting period to show how your company has performed to date in the fiscal period. You can generate Income Statement reports based on your company's financial history.
A standard income statement shows your company's revenues, expenses, and net income for a particular period. The income statement provides the detailed financial information that is not reported on the Balance Sheet.
You can also use comparative income statements to analyze
your company's progress over time. You can also compare various departments
within the same period.
To view these reports, open the Report Centre in the Home window, select Financials, Income Statement and then the report by name. Click Display.
Modify the Income Statement report
Modify the Comparative Income Statement report (2 periods)
Modify
the Comparative Income Statement (4 periods)
Modify the
Multi-period Income Statement report
Modify the
Departmental Income Statement report
Modify the Gross Margin Income Statement report
Modify the Comparative Gross Margin Income Statement report
Modify the Actual vs Budget Gross Margin Income Statement report
Modify
the Comparative Subsidiary Income Statement report