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Hide Field Settings from the 12 Month Income Statement

Hide Field Settings from the 12 Month Income Statement

Aug 6th, 2022

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How to Hide Field Settings from the 12 Month Income Statement

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The standard financial statements in Sage 50 include the Standard Income 12 Period report, which provides a monthly breakdown of the current fiscal year from periods 1 to 12. However, this report initially does not allow for a custom date range, limiting it to the current period. Users can change the current period to a previous one, but not to a closed year. To enable this functionality, users can click the save button while viewing the report, rename it (e.g., "My Income 12 Period"), and create a custom financial statement. This renamed report will then appear in the report list for future access.

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What should appear on an income statement?

The income statement presents revenue, expenses, and net income. The components of the income statement include: revenue; cost of sales; sales, general, and administrative expenses; other operating expenses; non-operating income and expenses; gains and losses; non-recurring items; net income; and EPS.

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 item does not appear on an income statement?

Unearned fees and prepaid expenses are not classified as costs of the period, and therefore, do not appear in the income statement. The net loss appears in the income statement and it shows the amount by which the companys costs exceed its revenues.

How do you layout an income statement?

Steps to Prepare an Income Statement Choose Your Reporting Period. Your reporting period is the specific timeframe the income statement covers. Calculate Total Revenue. Calculate Cost of Goods Sold (COGS) Calculate Gross Profit. Calculate Operating Expenses. Calculate Income. Calculate Interest and Taxes. Calculate Net Income.

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