The Income Statement is a financial statement that can be run for a specific month and fiscal year, showing the result after all revenues and expenses have been accounted for. The end result is either the business' net income or net loss for that specific time period. The net income or net loss from the Income Statement is closed out to equity on the Balance Sheet on an annual basis.
- This report is different from a Balance Sheet, which shows the business' assets, liabilities and equity. To learn more about this report, please click here.
- If you want to view line-item level detail for the Income Statement, you can do so by pulling the GL Detail Report for a specific category.
In order to get to the Income Statement, please take the following steps:
- Navigate to the Reports tab on the left-hand menu
- Click the Financial Reports option from the drop-down menu
- Click on the Income Statement option
- From here, you can choose the fiscal year and period that you would like to view
- Selecting both a new fiscal year and period will refresh this report and the new data-set will be pulled
- If you would like to view this in Microsoft Excel, you can click the [Export to Excel] button at the bottom of the page.