TurboCASH Accounting Software TurboCASH United Kingdom
Select your Country
OPEN SOURCE ACCOUNTING SOFTWARE
HomeFeatures & ScreenshotsShop onlineCompareFAQForumRegisterContact
Community
Free Downloads
Shop
Other Titles

Using TurboCASH

 







GENERAL LEDGER REPORTS
INCOME STATEMENT
  
The Income Statement will list all the balances of your accounts, which is created as an Income / Expense type in the Edit - Accounts - General Ledger menu option and will reflect your net profit or loss for a specific period. The Income Statement has two main sections (financial categories), i.e. Income and Expenses. When the Income exceeds the Expenses, the report will reflect the net profit. If the Expenses exceed the Income, the report will reflect a net loss.

The Income Statement is used to manage and report on your businesses' income and expenses. TurboCASH allows you to compare the actual figures in the Income Statement with one of the following comparative figures:
  • Last year's actual figures, if available. The financial performance of the actual figures may be compared to last year' actual figures for the selected periods.

  • Budget figures, if entered in the Edit - Budgets menu option. If the budgeted figures are entered correctly, you may compare the actual income received and expenses paid to the budgeted figures to determine whether your income is on track or where you are over spending or under spending.
To generate an Income Statement:
Click on the Reports - General Ledger - Income Statement menu option or press the and keys on your keyboard. You may also press the and and and keys on your keyboard. The Income Statement Options screen will be displayed.

 

Title bar - double-click to display the screen in full size or to return to the normal size. Close button - will exit or close this screen. Select, Screen, Printer, File, E-Mail or Fax. Copies - the number can only be selected if the Printer option is selected. Click to change the Printer and the Page Setup for Dot Matrix Printers. Click to generate the report. Click to close or exit this screen. Select Account Reporting Group 1 or 2. Select to view all accounts, including those with zero balances. Select to view balances for all accounts, includin Select the start and end period. Select to display last year balances as comparative figures. The budget figures may also be selected as comparative figures. Select to display the budget figures as comparative figures. The last year figures may also be selected as comparative figures. Select to display the decimals. If left blank, only the nearest Rand or Pound will be displayed. Select to display the variance between this year's income and expense accounts and last year or the budget figures. Minimise button - click to minimise this screen. Restore button - click to restore this screen.
Select the following options:

Option Description
Sequence You may select the selected accounts to be listed or displayed according to Account Group 1 or 2 (Reporting Group 1 or 2). The description of Account Group 1 or 2 you have entered on the Reporting Group Name field on the Accounts tab on the Setup - System Parameters - Groups menu option may be reflected in this drop down list.
Show Sub-Accounts Select this field to view the balances of your sub-accounts. If this field is left blank, no sub-accounts will be displayed and a summary of the net values for the main account will be displayed.
From If the cursor is in this field, the Periods search facility will be displayed. Select the start date from which you wish to include the balances.
To If the cursor is in this field, the Periods fast search facility will be displayed. Select the end date until which you wish to include the balances.
Show Decimal Leave blank to view the amounts rounded off to the nearest currency (e.g. Rands or Pounds).
Include Zero Balances If this field is selected, all accounts listed in your chart of accounts will be displayed and balances will only be displayed for those accounts with transactions.

If this field is left blank, all selected accounts with transactions and balances will be displayed.
Show Last Year If this field is selected, last year's actual figures will be displayed and compared to this year's figures. If you do not wish to see last year's figures or you have no figures for last year on the system, you may leave this field blank.
Show Budget If this field is selected, last year's actual figures will be displayed and compared to the budget figures. If you do not wish to see budget figures or you have not entered budget figures on the system, you may leave this field blank.
Show Variance If this field is selected, the difference between this year and last year's balances will be displayed. If you do not wish to see the variance, leave this field blank.

Click on the button to send the report to the medium, you have selected in the Send Report To field.

TurboCASH will ask you to confirm, whether you would like to include opening balances.



Click on the button to include Opening Balances from the previous financial period or financial year. If you click on the button, the Income Statement will list the value of your debit and credit transactions for the selected period.

When you click on the button for any report, which contains transactions, etc. TurboCASH will check for unposted items and display the number of unposted Batches and Documents. You may select to view the details of the unposted Batches and Documents. This is an important facility as these batches contain transactions, which will not be included in your reports.

If the Income Statement does not display correctly or in the required sequence:
  1. Click on the Setup - System Parameters - Financial Categories menu option. The Financial Categories screen will be displayed.

  2. Check that your Account Groups are correctly linked to the Income and Expenses Financial Categories.

  3. Select the Print Income before Expenses or Print Expenses before Income.

  4. Close or exit the Financial Categories screen and generate the Income Statement.