In Sage 300 ERP, An explanation of how the company’s realized net revenue is converted into net earnings (profit or loss) is provided by the income statement. Four essential items must be reported in order to do this: revenue, expenses, gains, and losses.
Revenue can include Sales, rent revenue, Dividend revenue, Interest revenue, sales return, sales discounts, etc. Expenses can include the cost of sales, utility expenses, cleaning expenses, income tax expenses, rent expenses, salaries and wages expenses, etc. Gains could be assets accrued from the sale of land or an old vehicle, etc. Losses could be costs that produce no benefit, a decrease in resource value, excess expenditure over income, etc.
In this blog, we are going to discuss the working of the Income Statement report. The report will export all the data regarding revenue, expense, profit, and loss accounts. To organize the data as per the user’s requirement we have provided the filters on accounts as well as the dates. The user needs to define the output file name and the above-mentioned filters to get the required results upon clicking of export button.
Please refer below screenshot of the user interfaces for the “Income Statement Report”.
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The report will be exported in a selected folder as an Excel file-based format with parameters as of from & To GL Accounts and from & To Date.
Below is the screenshot of the Excel-based generated output of the “Income Statement” report: –
This report includes the following fields and can be modified according to requirements.
- Company Name.
- Company Address.
- GL Account Number.
- GL Account Description.
- Current Year MTD Amount.
- Current Year YTD Amount.
- Current Year QTR Amount.
- Previous Year MTD Amount.
- Previous Year YTD Amount.
- Previous Year QTR Amount.
- Budget 1 MTD Amount.
- Budget 1 YTD Amount.
- Budget 1 QTR Amount.
- Variance (Current year – previous Year) MTD Amount.
- Variance (Current year – previous Year) YTD Amount.
- Variance (Current year – previous Year) QTR Amount.
In this way user can easily fetch the required GL Accounts data which serves the purpose of this utility. We can also customize this report output with the required additional fields.
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Greytrix – a globally recognized and one of the oldest Sage Gold Development Partner is a one-stop solution provider for Sage ERP and Sage CRM organizational needs. Being acknowledged and rewarded for multi-man years of experience, we bring complete end-to-end assistance for your technical consultations, product customizations, data migration, system integrations, third party add-on development and implementation competence.
Greytrix offers unique GUMU™ integrated solutions of Sage 300 with Sage CRM, Salesforce.com, Dynamics 365 CRM and MagentoeCommerce along with Sage 300 Migration from Sage 50 US, Sage 50 CA, Sage PRO, QuickBooks, Sage Business Vision and Sage Business Works. We also offer best-in-class Sage 300 customization and development services and integration services for applications such as POS | WMS | Payroll | Shipping System | Business Intelligence | eCommerce for Sage 300 ERP and for Sage 300c development services we offer, upgrades of older codes and screens to new web screens, latest integrations using Data and web services to Sage business partners, end users and Sage PSG worldwide.Greytrix offers 20+ addons for Sage 300 to enhance productivity such as GreyMatrix, Document Attachment, Document Numbering, Auto-Bank Reconciliation, Purchase Approval System, Three way PO matching, Bill of Lading and VAT for Middle East. The GUMU™ integration for Dynamics 365 CRM – Sage ERP is listed on Microsoft Appsource with easy implementation package.
For more details on Sage 300 and Sage 300c Services, please contact us at accpac@greytrix.com, We will like to hear from you.