ANTE User ManualIncome Statement
The Income Statement shows whether the company made a profit over a period. It starts with revenue and works down through gross profit, operating income and profit before tax to net income, and can compare the period with the one before it. Only posted journals count; draft (unposted) documents are excluded.
Where to Find It
- Click Treasury in the sidebar
- Open Financial Statements, then select Income Statement
You need the Treasury Financial Statements permission. The page title shows the currency, for example Income Statement (PHP).
Choosing the Period
Click Apply after changing the dates.
Reading the Statement
The statement runs in sections, each with one line per account and a section total: Revenue, Cost of Sales, Operating Expenses, Other Income / (Expense) and Tax. Running subtotals appear as the statement builds up: Gross Profit, Operating Income, Profit Before Tax and finally Net Income. A section with no activity in the period is left out.
When the period has a start and an end, which it does by default, a comparative is shown next to the Amount column: Prior Period (an equal-length period ending the day before yours starts), Variance and Variance %. The percentage shows a dash when the prior amount was zero.
If some accounts are neither profit-and-loss nor balance-sheet classified, a warning lists them and they are left out of the statement. Fix their type or category in the Chart of Accounts.
Drilling Down
- Click an account line to open the General Ledger for that account and the same period.
- Click an amount (a line, a section total, a subtotal, or the prior and variance columns) to open the Amount Breakdown, which explains how the figure is computed and lists the journal lines behind it.
Apply Reporting Currency
Apply Reporting Currency translates the statement in place into another currency (IAS 21). Pick a Reporting currency and a Rate book (or keep the defaults) and click Apply. The title then shows the currency pair. If a required rate is missing, the page says the translation is unavailable. Click Reset to functional to go back.
Exporting to Excel
Export to Excel downloads the statement for the applied period, in the reporting currency when one is applied.
The Profit & Loss page shows the same profit as a month-by-month spread for the year.
How It Connects
Set up first
- Chart of Accounts — account type and category decide which section each account falls into.
- FX Rates — the reporting-currency rates that Apply Reporting Currency needs.
Gets its data from
- Journal Entries — posted revenue and expense lines in the period build the statement.
- Payroll Journal — posted payroll journals are the salary and benefit expense lines.
- Cost Centres — journal lines can carry a cost centre for filtering the ledger.
Feeds into
- General Ledger — clicking an account line opens its ledger for the same period.
- Cash Flow Statement — starts its operating section from the net income calculated here.
- Statement of Changes in Equity — shows the profit for the period as an equity movement.
- Balance Sheet — accumulated profit becomes retained earnings in Equity.