This article explains the income statement (profit and loss) report.
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.
Configurations
| Option | Description |
| 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. More on this below. |
| 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 | If ticked will show income and expense accounts with zero value. |
| Show account numbers | If ticked will show the general ledger account numbers. |
Comparative Reports
You can create comparison reports with the income statement (profit and loss) report. For example, you want to see the last 12 months' profit and loss but you want to see the differences between each month.
You would choose the setting below.
When this report is generated you can monitor the changes in profit and loss per month over the last 12 months.
Output
| Option | Description |
| Bring up your print dialogue | |
| Excel | Downloads the balance sheet in an XLS format |
| Downloads the balance sheet in a PDF format |
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