Income Statement Screen
This screen allows you to run an income statement for your organization within a given period of time. You can enter the "From Date" and "Thru Date" (or use the calendar widget). You may also run the income statement for a pre-configured fiscal time period from using the drop down menu. The Fiscal Type drop down menu allows you to run the income statement for actual transactions ("Actual") or for previously entered budgets, forecasts, and other fiscal types.
The GL accounts on the income statement is divided into the following groups:
- Cost of goods sold (COGS)
- Gross profit = Revenue - COGS
- Operating expenses
- Operating income = Gross profit - Operating expenses
- Other income
- Other expenses
- Pretax income = Operating income + Other income - Other expenses
- Tax expenses
- Net income = Pretax income - Tax expenses
Clicking the [Run] button will create an income statement. Clicking the [Return to Reports] button will return you to the Reports Main Screen.