Income Statement
Shows a branch's profit and loss for a period: sales, returns and discounts, cost of goods sold, gross profit, other expenses and income, damages and stock adjustments, and net income.
Menu: Reports › Financial Reports › Income Statement
What it's for
Use it at month or year end to see whether a branch made money, and to compare back office and POS (Backend, POS and Total columns). The lines are:
- Gross Sales minus Discount/Adjustment(sales), Return and Discount/Adjustment(return) gives Net Sales.
- Net Sales minus Cost of Goods Sold and Credit Payment Charge (card surcharges) gives Gross Profit.
- Gross Profit minus Other Expenses (from Other Expense, per expense type), plus Other Income, minus Damage and the Adjustment Discrepancy of inventory adjustments gives Net Income, with its percentage of gross sales.
For March, branch A shows Net Sales 850,000.00, Cost of Goods Sold 640,000.00, Gross Profit 210,000.00, rent and salaries under Other Expenses 150,000.00, Damage 4,500.00: Net Income 55,500.00. With Show Income By Month the owner compares January to March side by side.
Options on the screen
- Branch (or several branches with the filters) and Trans. Date: the period.
- Show Income By: None (one set of columns for the whole period), Month or Year (one set per month or year).
- Show (COGS) By: Product Cost and Moving Average, Product Cost Only or Moving Average Only.
Filters
Click Filters to narrow the report. You can filter by:
Branch, Branch Area.
Good to know
How the cost of goods sold is valued (purchase price, moving average or both) is chosen in Show (COGS) By; the default comes from a setting. Only approved transactions are counted.
For searching, express filters, sorting, column settings, exporting and printing, see About reports.
Settings that affect this module
Your administrator can change these in Settings (see About settings). Click a section to see the choices.
Generic Settings › Income Statement