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Remove Line to the 12 Month Income Statement

Remove Line to the 12 Month Income Statement

Aug 6th, 2022

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How to Remove Line to 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 period 1 to period 12. Currently, there is no option to select a date range, limiting the report to the current period; however, you can change the current period to a prior open year for reporting. To enable date range functionality, simply click the save button while viewing the report and rename it, creating a custom financial statement (e.g., "My Income 12 Period"). This new name will update in the report list, allowing you to access it later.

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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 the most important element in the income statement?

Net Sales Revenue Sales revenue is critical because this is the money available to run your company. There are other ways to bring in money, such as by selling off assets or borrowing, but theyre not sustainable.

What is important on an income statement?

The income statement shows a companys expense, income, gains, and losses, which can be put into a mathematical equation to arrive at the net profit or loss for that time period. This information helps you make timely decisions to make sure that your business is on a good financial footing.

What is the line on the income statement?

The line generally refers to gross profit. Above that line on the income statement, typically, are sales and COGS (cost of goods sold) or COS (cost of sales or cost of services). Below the line are operating expenses, interest, and taxes.

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 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 most important line on an income statement?

Net income: Net income is the income left over after you subtract all of your expenses from your gross profits. Its the most important line of the income statement.

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