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Remove Date Field to the 12 Month Income Statement

Remove Date Field to the 12 Month Income Statement

Aug 6th, 2022

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How to Remove Date Field to the 12 Month Income Statement

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The "Standard Income 12 Period" report in Sage 50 provides a detailed monthly breakdown of the current fiscal year, covering periods 1 through 12. However, it lacks the option to select a specific date range, limiting users to the current reporting period. Users can change the current period to access data from prior open years, but not for closed years. To enable this functionality, users can save the report under a new name, creating a custom financial statement. Once saved, the report will appear in the report list, allowing for enhanced tracking of financial data over periods.

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.

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).

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.

Why income statement is dated for a period of time?

Income statements covering longer periods such as a year provide information about how business expenses and revenue balance out over time. For this reason, banks usually ask for longer-term statements, often requiring a series of annual documents showing business activity over multiple years.

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.

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