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Remove Alternative Choice to the 12 Month Income Statement

Remove Alternative Choice to the 12 Month Income Statement

Aug 6th, 2022

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How to Remove Alternative Choice to the 12 Month Income Statement

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The standard financial statements in Sage 50 include a useful report called the Standard Income 12 Period, which breaks down the current fiscal year by month (periods 1 through 12). However, this report does not allow users to choose a specific date range for analysis, meaning it can only be run for the current period or by adjusting the current period to a prior open year. To enable the functionality to run the report for a closed year, users can create a custom financial statement. This is done by clicking the save button while viewing the report and giving it a new name, such as "My Income 12 Period." The report name changes and is added to the list for future access.

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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 is the alternative title for income statement?

The income statement is also known as a profit and loss statement, statement of operation, statement of financial result or income, or earnings statement.

What is alternative format of income statement?

An alternative format is the contribution margin income statement, in which variable expenses are aggregated into what would have been the cost of goods sold block in a traditional income statement.

What are the alternate names of financial statements?

An income statementor profit and loss report (PL report), or statement of comprehensive income, or statement of revenue expensereports on a companys income, expenses, and profits over a stated period.

How do you show discontinued operations on an income statement?

Income and expenses related to discontinued operations can be found on line items on a companys income statement, below Continuing Operations Income and above Net Income.

What are the other form of income statement?

There are two different types of income statement that a company can prepare such as the single-step income statement and the multi-step income statement.

What is the traditional name for an income statement?

Also known as a profit and loss statement, a traditional income statement shows the extent to which a company is profitable or not during a given accounting period. It provides a summary of how the company generates revenues and incurs expenses through both operating and non-operating activities.

What is another name for income statement in Quickbooks?

The income statement, also called the profit and loss statement, is used to calculate profits by comparing revenue to expenses. It compares your income to your expenses and shows you the amount of profit or loss over a specified amount of time.

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