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Remove Last Name Field into the 12 Month Income Statement

Remove Last Name Field into the 12 Month Income Statement

Aug 6th, 2022

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How to Remove Last Name Field 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, displaying periods 1 through 12. However, it lacks the option to select a date range, limiting reports to the current period only. Users can revert to earlier periods if they change their current period to an open year, but closed years cannot be accessed. To enable custom date functionality, users can save the report under a new name, turning it into a custom financial statement. This process changes the report name and adds it to the list of available reports for future access.

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.

Which item would not be found on an income statement?

Answer and Explanation: (b) Dividends would not be found on an income statement. An income statement shows all the revenues and expenses of a company for a period of time, typically for a year.

How do you break down an income statement?

Your income statement follows a linear path, from top line to bottom line. Think of the top line as a rough draft of the money youve madeyour total revenue, before taking into account any expensesand your bottom line as a final draftthe profit you earned after taking account of all expenses.

What is the last item on income statement?

5. Net profit: Your companys net profit (also called net sales or net earnings) is the gross profit minus expenses, and is the final line on your income statement.

How do you fill out a monthly 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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