The Income Statement provides information on the results of your company’s operations for a reporting period. This report gives you a summary of your company’s revenues, expenses, gains and losses for a certain period or range of periods. The presentation of the report data is either standard or alternate depending upon the format selected in the GL Module Setup function. This report helps you in assessing the results of the company’s operations as of a certain period and as reference when evaluating various financial ratios.

You can generate this report for a single period, period comparison or range of periods. You can select to generate this report for period-to-date, year-to-date, combined period-to-date and year-to-date, or range to date. You can also select either combined or consolidate options on how to display the balances in the report. You can opt to include GL Account IDs, zero balance accounts, decimals, and GL Account IDs with zero activity in the report. In addition, you can choose to generate a consolidated report for all minor segments. You also have an option to show in the report the balance amount only, percentage of the balances only or both.