The Income statement will list all the balances of your accounts which are created as an Income / Expense type in the Edit → Accounts menu, and will reflect your net profit or loss for a specific period. The Income statement has two main sections (financial categories), i.e. Income and Expenses. When the Income exceeds the Expenses, the report will reflect the net profit. If the Expenses exceed the Income, the report will reflect a net loss. 

The Income statement is used to manage and report on your businesses' income and expenses. TurboCASH4 allows you to compare the actual figures in the Income statement with one of the following comparative figures: 

Last year's actual figures, if available. The financial performance of the actual figures may be compared to last year' actual figures for the selected periods. 

Budget figures, if entered in the Edit → Accounts menu. If the budgeted figures are entered correctly, you may compare the actual income received and expenses paid to the budgeted figures, to determine whether your income is on track, or where you are over spending or under spending. 

This will list the following account types and account groups: 

Income accounts. 

Expense accounts. 

To print an Income statement:

1.On the Sidebar, select Ledger analyser 1 or Ledger analyser 2. (Tools → Ledger analyser menu). 

2.Select the “Income statement” report type.  

3.Select “Per period” to select a period (Month, 2 Months, 3 Months, 4 Months, 6 Months or Year). 

You may click on the “Free selection” tab. You may select or enter any date or dates, which you need to include in the Income statement.  

4. Select the "Groups", if required. "None" is the default option. You may select "Reporting group 1" or "Reporting group 2". 

5."Ignore zero balances" - If this field is not selected, all income and expense accounts will be listed for the Income statement balance. If you select (tick) this field; only those income and expense accounts with balances will be included in the Income statement.  

6."Budget" - Leave this option blank to include the actual posted (updated) transactions in the Income statement.  

The "Budget" option, if selected, will list only the budget figures (Budget listing) in the Trial balance, Income statement, Balance sheet and Standard column balances report types (if budget figures were entered in the Edit Accounts menu). 

7."Cost centre 1" and "Cost centre 2" - The Cost centres (2 Groups) will only be available, if Cost centres are added in the Setup → System parameters → Groups; and if activated.

8.Click on the Report button. This will build or refresh the Income statement with the selected options. 

An example of the "Income statement - Reporting group 1" report type, in the "Ledger analyser" screen, is displayed as follows: 

Click on the Print button. An example of the printed "Income statement - Reporting group 1", is displayed as follows: 

To save the Income statement as a PDF file:

1.On the "Reportman print preview" screen, select Save (Ctrl+S) – This will launch the “Save Metafile As” screen. 

2.Select the directory (folder) where you need to save this file, if necessary. 

3.Enter a file name. 

4.Select the "PDF File – compressed" default file type.

5.Click Save.