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Hide Date from the 12 Month Income Statement

Hide Date from the 12 Month Income Statement

Aug 6th, 2022

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How to Hide Date from 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, ranging from period 1 to period 12. However, it lacks the option to select a custom date range, limiting users to the current period or, by altering the current period, a previous open year, but not a closed year. To enable additional functionality, users can save the report under a new name, transforming it into a custom financial statement. After saving, the report appears with the new name in the list, allowing for greater flexibility in financial reporting.

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.

Does the income statement show a period of time?

Income statements usually give information for both the latest period and at least one prior period to make comparisons easier. For example, an income statement covering January 1 to December 31, 2021, would include the statements for both that year and the previous yearJanuary 1 to December 31, 2020.

Do financial statements have to have a year end of December 31?

A Fiscal Year (FY), also known as a budget year, is a period of time used by the government and businesses for accounting purposes to formulate annual financial statements and reports. A fiscal year consists of 12 months or 52 weeks and might not end on December 31.

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).

Do PL statements show information from a period of time?

A companys PL statement shows its income, expenditures, and profitability over a period of time.

Which financial statement cover a period of time?

Unlike the balance sheet, the income statement covers a range of time, which is a year for annual financial statements and a quarter for quarterly financial statements. The income statement provides an overview of revenues, expenses, net income, and earnings per share.

How does the date on the income statement differ from the date on the balance sheet?

A good financial manager looks at both the income statement and the balance sheet. Your income statement reports the income and expenses for a specific period of time (i.e. a month, a quarter, or a year), whereas the balance sheet lists your companys assets and liabilities at a specific date.

Is an income statement for a year or month?

Frequent reports: While other financial statements are published annually, the income statement is generated either quarterly or monthly. Due to this, business owners and investors can track the performance of the business closely and make informed decisions.

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