Remove Number Fields from the 12 Month Income Statement and eSign it in minutes

Aug 6th, 2022
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How to Remove Number Fields from the 12 Month Income Statement

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included in the standard financial statements with sage 50 is this report called the standard income 12 period its a very handy report because it breaks down your current fiscal year by month so you can see here weve got period 1 through period 12. but if you go to the options youll see that there is no place where you can choose a date range that means you can only run it for whatever your current period is you could change your your current period back to something in the first of your two open years and run it for that year but theres no way that you can run it for a closed year however with one simple change we can we can turn that functionality on while youre viewing the report you just click the save button and give this a new name so it becomes a custom financial statement well just call it my income 12 period you can see the report name changed up there and also if you go back to the list it now shows in the list there now when youre on the report or if you were to click

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Also known as profit and loss (PL) statements, income statements summarize all income and expenses over a given period, including the cumulative impact of revenue, gain, expense, and loss transactions.
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.
For example, efficiency and reputation of management, source of sale and purchase, dissolution of contract, quality of produced goods, morale of employees, royalty and relationship of employees to and with the management etc. being immeasurable in terms of money are not disclosed in the financial statements.
The basic formula for an income statement is Revenues Expenses = Net Income. This simple equation shows whether the company is profitable. If revenues are greater than expenses, the business is profitable.
Review each and every asset account, liability account and owners equity account posted in the balance sheet. The difference between the total assets and total liabilities plus owners equity will be the missing figure.
How to calculate net income. To calculate net income, take the gross income the total amount of money earned then subtract expenses, such as taxes and interest payments.
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.

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