The Income Statement shows revenue and expenses for the dates you select. The difference between the two (revenue minus expenses) is your profit (positive number) or loss (negative number) for the period and is known as your Net Income. Net Income appears on the last page of the report in the Report Summary section.
- From the main screen of Expenses & Ledger go to Reports > Standard Reports > Expenses & Ledger.
- You may run the report at the region or school level. Choose either General Ledger Reports – Regional orGeneral Ledger Reports – School.
- Select a report like the regional “Income Statement” or “Income Statement – Each School”, or the individual school report called “School Income Statement”.
Hint: If you have many locations, you may run an Income Statement under Corporate Reports. From theProcare Home screen go to Corporate Reports > Standard Reports > General Ledger Reports.
Please note that “Revenue” in the Family Accounting module is based on charges, not cash collected.
See also: What happens to Profit & Loss When I Calculate Balances for the New Year?