Easily Replace Phone Field to the 12 Month Income Statement

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How to Replace Phone Field to 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 doesn’t allow users to select a date range, limiting reports to the current period only. To work around this, users can create a custom financial statement by clicking the save button while viewing the report. By naming it (e.g., "My Income 12 Period"), the report is renamed and available in the report list. This enables users to generate reports based on periods from open years, enhancing reporting flexibility without directly accessing closed years.

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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.

Where does a telephone go on the balance sheet?

Electricity expense and Telephone expense are recorded as General Administration Expenses in Income Statement as they are expenses. While Electricity Payable and Telephone Payable need to be recorded in Current Liability section in Statement of Financial Position/ Balance Sheet.

Where does telephone expense go on balance sheet?

These expenses include telephone expenses, transportation expenses, utility expense. These are included as operating expenses in the Companys income sheet.

Is telephone on the balance sheet?

Answer: The telephone expense is reported on the income statement being an expense. The statement of profit and loss considers all the income and expenses incurred during the year to determine the net income earned during the year.

Is a telephone an asset or expense?

Telephone expense is expense.

Does telephone expense go on the income statement?

Answer: The telephone expense is reported on the income statement being an expense. The statement of profit and loss considers all the income and expenses incurred during the year to determine the net income earned during the year.

Is telephone an expense or liability?

Liabilities in accounting are money owed to buy an asset, like a loan used to purchase new office equipment or pay expenses, which are ongoing payments for something that has no physical value or for a service. An example of an expense would be your monthly business cell phone bill.

What is a 12-month trailing income statement?

Trailing 12-month, or TTM, refers to the past 12 consecutive months of a companys performance data used for reporting financial figures. By consistently evaluating trailing 12-month numbers, company financials can be evaluated both internally and externally without regard for the artificiality of fiscal year-end.

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Replace Phone Field to the 12 Month Income Statement