Report: Income and Expense
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The income & expense report is one of the financial statements for an agency that indicates how gross income (money received from the sale of insurance and services before expenses are taken out) is transformed into net income (the result after all revenues and expenses have been accounted for).
The income and expense report displays the income recognized for a specific period, and the cost and expenses charged against this income, including write-offs (e.g., depreciation and amortization of various assets) and taxes.
The purpose of the income & expense report is to show managers whether the agency made or lost money during the period being reported.
See automatic monthly reports for additional month-end reporting options.
Contents
Access and Security Options
The income & expense report can be opened by selecting Reports -> Income & Expense. (Additionally, the income & expense report is available as an automatic monthly report)
Access to the income & expense report is controlled through the security system G/L -> Income & Expense -> View setting.
Report Window Options
Agency
The income & expense report can be run for only the current agency code, or for all agencies. (Requires 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 type is set to Test.
When the agency filter is removed, the Detail section below is enabled.
Department
The report can be run for one 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 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 filter above is removed, and the report is 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.
