The Income Statement will first list the Income accounts which
is linked to the Income Financial Category and then the Expense Accounts which
is linked to the Expenses Financial Category in the Setup - System Parameters - Financial
Categories menu option. You may also select
to print the Expenses before Income on the Financial Categories screen. The
information on the Income Statement is displayed in 4 columns and is as
At the bottom of each This Year, Budget and Last Year the Net
Profit figure will be displayed. This figure is the displayed if the Income
Account balances are more than the Expense Account balances. Should the Expense
Account balances exceed the Income Account balances, the Net Profit description
will be displayed as Net Loss.
Account Number Description - The Income accounts numbers and
the name of the accounts will be listed and a total for the Income accounts.
The Expense accounts numbers and the name of the accounts will be listed and a
total for the Expense Accounts.
This Year - The Income account balances will usually be
listed as Credit balances and the Expense account will usually be listed as
Debit balances. These account balances include the transactions in posted
batches and journals and updated documents only.
Budget - These figures will only be listed for those accounts
for which budget figures have been entered in the Edit -
Budgets menu option. If the Show Last Year
option is selected, the heading will reflect Last Year and the transaction
figures for the Previous financial year will be displayed.
Variance - This is the amount of This Years figure less the
Amount of the Budget figure or Last Year, depending if you have selected to
view the Budget or Last Year figures as comparative figures.
If you have selected Last Year - The income and Expense account
balances will only be listed if the financial year is closed in the Tools -
Global Processes - Do Year-end menu option or
if any transactions in batches or documents have been posted to Last Year. This
will allow you to compare This Year's actual income and expense figures with
that of the same accounting periods in the previous (Last Year)
The amounts which are displayed in <> indicates a credit
or negative figure. You may change this negative amount indicator to a minus
sign (-) to prefix your amounts or set it to display a D (for Debit) or a C (for
Credit) in the Setup - Preferences - Data Parameters