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Delete Date Field to the 12 Month Income Statement

Delete Date Field to the 12 Month Income Statement

Aug 6th, 2022

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How to Delete Date Field to the 12 Month Income Statement

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The Standard Income 12 Period report included in Sage 50 provides a monthly breakdown of the current fiscal year, displaying periods 1 through 12. However, it lacks an option to select a specific date range, limiting users to the current period. While it's possible to change the current period to an earlier open year, closed years cannot be accessed. To enable this functionality, users can create a custom financial statement by saving the report with a new name. This allows for greater flexibility in viewing past financial data, as the new custom report will appear in the list of available reports.

Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What is a 12 month income statement?

Trailing 12 months (TTM) is the term for the data from the past 12 consecutive months used for reporting financial figures. A companys trailing 12 months represents its financial performance for a 12-month period; it does not typically represent a fiscal-year ending period.

What financial statement is for the period ended date on?

The balance sheet provides an overview of a companys assets, liabilities, and shareholders equity as a snapshot in time. The date at the top of the balance sheet tells you when the snapshot was taken, which is generally the end of the reporting period.

What is the year to date on the income statement?

What is Year-to-Date? Year-to-date refers to the cumulative balance appearing in an income statement account for the current year, through the end of the most recent reporting period. Thus, for financial statements using the calendar year, the concept refers to the period between January 1 and the current date.

How do you format dates on an income statement?

The income statement covers the entire period, whether that is a month, a quarter or a year. Therefore, when completing the income statement, the date in the heading should be For the (month/quarter/year) ended (date).

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