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Income Statement

Revision as of 11:54, 1 March 2022 by Gelo (talk | contribs)

Income Statement

Income Statement Menu

Financial Statements - Income Statement - Record List.png


Income Statement refers to an overview of competitive Income Statements for specific periods. It also shows how profitable the company base on the given period. The income statements gives the user an overview of the revenue, less the expenses and losses.

Income Statement Terms on Oojeema Prime:
Field Description
1. Year Filter Allows the user to Filter a specific year.
2. Export Allows the user to Export the Report into Spreadsheet
3. Date Range Tab(Monthly, Quarterly, Yearly) gives the user a set of date range on how they will view their Balance Sheet.
4. Account set of accounts included on the Income Statement which mainly compose of Revenue, Cost and Expense.
5. Revenue refers to any income generated from business operations with the inclusion of discounts and deductions for returned merchandise.
  • Set of Revenues can be seen in Revenue Tab under Chart of Account Maintenance Module.
6. Cost refers to any value of money that will be used in products or services.
7. Gross Income refers to any amount that the company earns from the sale of goods or services, before any other expenses have been deducted.
8. Expense refers to any type of expenditure that flows through the Income Statement. Expense is deducted to revenue to acquire the business net income.
  • Set of Expenses can be seen in Expense Tab under Chart of Account Maintenance Module.
Exporting Income Statement Records
  1. Under Main Menu, Click Reports
  2. From Reports, click Income Statement under Financial Statements
  3. Under Income Statement, Click Export Button.
Financial Statement - Income Statement - Export.png


Notes:

  • The user may change and filter the year, and the statements if it is Yearly, Quarterly and Monthly for more precise exportation of data


Categories:
Modules
Maintenance Maintenance | Chart of Account
Reports Module (Reports)
Reports Financial Statement
Financial Statements Balance Sheet | Income Statement | General Ledger | General Journal | Trial Balance | Statement of Account | Accounts Receivable Aging | AR Detailed Report | AR Transaction Report Accounts Payable Aging | AP Detailed Report | AP Transaction Report | Cash Position | Check List | Deposit List | Collection Register