{"id":19989,"date":"2024-12-23T12:00:45","date_gmt":"2024-12-23T12:00:45","guid":{"rendered":"https:\/\/docs.daftra.com\/?post_type=user_manual&p=19989"},"modified":"2024-12-23T12:00:45","modified_gmt":"2024-12-23T12:00:45","slug":"income-statement-balance-sheet-cash-flow-statement-on-daftra-and-how-to-read-them","status":"publish","type":"user_manual","link":"https:\/\/docs.daftra.com\/en\/user_manual\/income-statement-balance-sheet-cash-flow-statement-on-daftra-and-how-to-read-them\/","title":{"rendered":"Income Statement – Balance Sheet – Cash Flow Statement on Daftra and How to Read Them"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]To prepare and read financial statements on Daftra, it is essential to understand the Income Statement, Balance Sheet, and Cash Flow Statement. Financial statements are important for several reasons. They provide a comprehensive view of a company’s financial health, and by analyzing these statements, businesses can identify trends, assess profitability, manage resources efficiently, and ensure regulatory compliance.<\/p>\n

\"\"<\/a>[\/vc_column_text][vc_custom_heading text=”Income Statement” font_container=”tag:h2|font_size:28|text_align:center|color:%2304306b|line_height:2″ use_theme_fonts=”yes” css=”.vc_custom_1721025230269{margin-left: 200px !important;background-color: #f6f9fc !important;border-radius: 4px !important;}”][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]An Income Statement is a financial document that summarizes a company’s revenues, expenses, and profits over a specific period.<\/p>\n

To view an income statement report in Daftra follow the steps below:<\/p>\n

From the main menu click\u00a0 on “Reports<\/strong>“, choose “Accounting Reports<\/strong>“, then click on “Income Statement<\/strong>“.<\/p>\n

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The\u00a0\u201cIncome Statement\u201d<\/strong> report will appear on a new page. You can apply a number of additional filters to the report, including: Date Range, Accounts Branch, Journal Branch, Cost Centers, and others.<\/strong>[\/vc_column_text][vc_message message_box_style=”3d” message_box_color=”sky”]For more details about the “Income Statement<\/strong>” report filters refer to this guide<\/a><\/strong>.[\/vc_message][vc_column_text]After applying the required filters click on “Show Report<\/strong>“, then a detailed income statement will be generated as displayed in the image below.<\/p>\n

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The first part included in the statement is the “Incomes<\/strong>” and it includes the following:<\/p>\n

Revenue:<\/strong> The total amount of money earned from the sale of products or services and other sources.<\/p>\n

You’ll find them listed in the form of 3 fields:<\/p>\n