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Hide Text Fields into the 12 Month Income Statement

Hide Text Fields into the 12 Month Income Statement

Aug 6th, 2022

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How to Hide Text Fields into the 12 Month Income Statement

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The Standard Income 12 Period report in Sage 50 provides a monthly breakdown of the current fiscal year, spanning from period 1 to period 12. However, the options do not allow users to select a specific date range, meaning it can only be run for the current period. Users can change their current period to access previous years, but not closed years. To enable this functionality, you can create a custom financial statement by clicking the save button while viewing the report, assigning it a new name (e.g., "My Income 12 Period"). This action updates the report name and adds it to the list of reports, allowing for greater flexibility in accessing previous data.

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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 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.

Can an income statement be manipulated?

There are two general approaches to manipulating financial statements. The first is to exaggerate current period earnings on the income statement by artificially inflating revenue and gains, or by deflating current period expenses.

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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