Income Statement (or Profit and Loss) Report

In this article:

• Brief Description
• Use Cases 
• Finding and Using the Report
• Available Filters
• Report Output
• Additional Notes

Brief Description

The income statement or profit and loss reports on a company's financial performance over a specific accounting period. This report has the ability to create comparative reports.

Use Cases 

This report is useful for running periodic financial reports, such as month end or year end.

Finding and Using the Report

• In Actionstep, go to Reports > Accounting Reports > Financial.

Then, refer to these articles for help generating and saving reports for future use:

• Reporting Overview
• Generating a Report
• Saving a Report Configuration

Available Filters

• Period: Transactions will be included in this report depending on the dates configured here, for most common periods, for example, last financial year you can select the drop-down box next to the dates and the dates will be pre-filled for you.  
• Output Columns: This is where you can display comparative periods. See Additional Notes below for more information. 
• Level of nested accounts: You would normally set this to the maximum selection of 4, if you were to choose 1 for example you would only see the header accounts with no details in relation to child accounts. There is a maximum of 4 nested accounts that can be shown in this report.  
• Show zero value accounts: Select this option to show income and expense accounts with zero value.  
• Show account numbers: Select this option to show the general ledger account numbers. 

Report Output

The content in the generated report varies depending on the type and structure of data you select to include in it.  

Additional Notes

You can create comparison reports with the income statement (profit and loss) report. For example, you might want to see the last 12 months' profit and loss but you also want to see the differences between each month. To do this, you could choose settings like below, and when this report is generated, you can monitor the changes in profit and loss per month over the last 12 months.