Income statement consolidated report

 

Also called

  • Profit and Loss
  • P & L

Sample reports

 

Other report formats are available and can be generated in the software.

When to use it

Use an income statement to:

  • Find the net profit or loss for a period of time.
  • Provide a summary report on the property's income and expenses for rental owners and association board members.

Generating this report

Save time! Access this feature from any screen using the shortcuts menu.

  1. Go to the Reports menu .
  2. Click the Income Statement link.
  3.  

  4. Click Download report.

Miscellaneous

  • It is uncommon to see negative amounts on this report.
  • Cash basis income statements count the transaction on the date of the payment. A payment meant for April but received in March will show on an income statement in March.
  • Accrual basis income statements report on the charges, not the payments.
  • Management income accounts do not appear on income statements.see "Monthly management fee policy" for more information.

 

Article #: 112677

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