Income Statement

The income statement (profit and loss statement) shows revenues, expenses, and net profit for a specific period.

Statement Components

• Revenue: Total sales and other income
• Cost of Sales: Cost of goods sold
• Gross Profit: Revenue - Cost of Sales
• Operating Expenses: Salaries, rent, utilities, etc.
• Net Profit: Gross Profit - Expenses

Viewing the Report

Go to Reports > Income Statement and select the desired period.