Income Statement Reports

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.

Understanding the Income Statement

ClosedRevenues

ClosedExpenses

ClosedNet income

Types of Income Statements

ClosedIncome Statement

ClosedMulti-Period Income Statement

ClosedDepartmental Income Statement (Sage 50 Premium Accounting)

ClosedGross Margin Income Statement (Sage 50 Pro Accounting)

ClosedComparative Subsidiary Income Statement (Sage 50 Premium Accounting)

You can also use comparative income statements to analyse your company's progress over time. You can also compare various departments within the same period. (Sage 50 Premium Accounting)

To view these reports, open the Report Centre in the Home window, select Financials, Income Statement and then the report by name. Click Display.

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