View source for Report: Income and Expense

[[Category:Reports]][[Category:Month-End]]
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    <td>Related Pages</td>
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<ul>
<li>[[Automatic Reports]]</li>
<li>[[General Ledger Profile]]</li>
<li>[[Training 6: Accounting]]</li>
<li>[[Training 7: Management]]</li>
</ul>
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    <td>Related Categories</td>
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<ul>
<li>[[:Category:Month-End|Month-End]]</li>
<li>[[:Category:Reports|Reports]]</li>
</ul>
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The income & expense is one of the financial statements for an agency that indicates how the income (money received from the sale of insurance and services before expenses are taken out) is transformed into the net income (the result after all revenues and expenses have been accounted for). 

The income and expense displays the income recognized for a specific period, and the cost and expenses charged against this income, including [[General Ledger Profile|write-offs (e.g., depreciation and amortization of various assets) and taxes]].

The purpose of the income statement is to show managers whether the agency made or lost money during the period being reported.

See [[Automatic_Reports#Monthly_Reports|automatic monthly reports]] for additional [[:Category:Month-End|month-end]] reporting options. 
== Access and Security Options ==
The income & expense can be opened by selecting '''G/L -> Income & Expense'''.  ''(Additionally, the income & expense is available as an [[Automatic Reports|automatic monthly report]])''

Access to the income & expense is controlled through the [[Security System| security system]] '''G/L -> Income & Expense -> View''' setting.

[[File:Report-incomeexpense.png]]

== Report Window Options ==
==== Agency ====
The income & expense can be run for only the current [[#Agency Profile|agency code]], or for all agencies. ''(Requires [[Security System|Security System:]] G/L -> Consol Income & Exp -> View)''

Press <delete> to remove the agency filter. All agencies in your data will be included unless the [[Agency_Profile#Agency_Profile_Screen|agency type is set to Test]].

When the agency filter is removed, the [[#Detail|Detail section below]] is enabled. 

==== Department ====
The report can be run for one [[Department Profile|department]], or all departments. To include all departments, remove the selected department filter by pressing the <delete> key.

==== Date ====
Select the month and year for the end date of the report.  The report automatically uses the [[Agency_Profile#Accounting_Setups|fiscal year begins]] agency setting for the starting year-to-date filter. 

When a date range is selected, all days within the selected month are also included.
==== Compare With ====
For each amount shown, compare to last year's amount, budgeted amount, or neither. See [[Budget Maintenance]] for additional details.

==== Detail ====
If the [[#Agency|agency filter above]] is removed, and the report generated for all agencies, the detail filter is made available. 
*'''Show agency detail:''' Each GL account for each agency will be shown individually. 
*'''Combine agencies:''' Matching GL accounts between agencies will be shown as a combined value.
:[[File:Report-incomeexpense-combine.png]]