The Income Statement report shows all school income and expenses for a selected period. It can be generated as a PDF and configured with various reporting options.

Reports > Finances > Transactions: Income Statement

How do I generate an income statement?

1. Choose the reporting structure: Budget Categories (income and expenses grouped per budget category — amounts showing a loss print as expenses, a profit as income, regardless of account type) or Income and Expenses (income prints at the top, expenses at the bottom).

2. Choose the period for the report.

3. Choose what income to report on: Invoices issued (all automatic billing for the period) or Cash received (physical cash, card and EFT payments plus debtor journals).

4. Configure the additional options: show account detail, include projects under a specific account, include projects that close to balance sheet accounts, show project detail, show accounts/projects with a zero balance, show the budget, and choose which budget percentages to display.

5. Select the budget items on the left and click the double arrows to allocate them. Use Up and Down to change the order.

6. Click Preview to generate the report as a PDF. Adobe Acrobat Reader is required to view it.

Frequently asked questions

What is the difference between Budget Categories and Income and Expenses?

Budget Categories groups results by budget category — a budget category in profit prints as income, one in loss prints as an expense, regardless of account type. Income and Expenses uses standard accounting layout with income at the top and expenses below.

What is the difference between Invoices issued and Cash received?

Invoices issued reports on all automatic billing for the period. Cash received reports on actual payments received (cash, card, EFT) plus debtor journals, and does not reflect total billing.