Income Statement

• Income Statement

It is one of the most critical financial statements for any organization. It shows the sum of the organization’s business during a certain period, in addition to all information related to revenues and expenses.

The main purpose of the income statement is to know the net profit or net loss, and the revenue and expense account is closed at the end of the year and is not carried over to the new year.

Through Qoyod, users can compare the statement of financial position with a previous day, week, month, quarter, or year. They can also specify the number of periods of time to be compared. In addition, they can specify the level of the account to be shown in the statement of financial position or only showing the “Account Type”.

You can view the income statement through “Reports” – “Income Statement”.

• Advanced analysis:

In the income statement, there is an advanced analysis feature that enables you to show specific items of income and expenses according to your preferences through the “Filter” option. You can either select “Custom Fields” that show you the revenues and expenses of each item separately or through products, projects, customers or vendors or employees and finally, branches and stores. You can, also, compare the performance of the organization in terms of several items through the “Dimensions” option by selecting several custom fields, products, projects, or several customers as well.

Click here to learn more about custom fields. 

• Inspect feature:

Using the inspect feature, you can see the details of the amounts shown in the report, such as the amounts for each customer, as well as for suppliers, locations, products, projects, employees, and finally documents.