Income Statement Reports
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.
An income statement is used for both financial and management purposes. For instance, it is used to show how the earnings on the Balance Sheet were arrived at and over what period of time. It is also normally printed at the end of an accounting period to show how your company has performed to date in the fiscal period.
Income Statement reports can be used to view and print an income statement for the current period or for previous periods. It can also be used to view a Comparative Income Statement (that compares the current period to a previous one). You can also use comparative income statements to analyze your company's progress over time.
Types of Income Statements
Income Statement
Can be used to view and print an income statement for the current period or for previous periods. It can also be used to view a Comparative Income Statement (that compares the current period to a previous one). A four-period Comparative Income Statement is also available.
Multi-Period Income Statement
The multi-period income statement allows you to compare revenue, expense, and net income details over several periods. This gives you a detailed look at your company's performance over many periods. You can use it to examine all of the periods for which you have Sage 50 Accounting records.
To view these reports, open the Report Centre in the Home window, select Financials, Income Statement and then the report by name. Click Display.