Income Statement Report
The Income Statement report shows income, expenses, and net income for a specific period of time.
The standard Income Statement includes the following rows:
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Ordinary Income/Expense (header row)
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Income (financial section)
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Cost of Sales (financial section)
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Gross Profit (formula row)
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Expense (financial section)
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Net Ordinary Income (summary row)
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Other Income and Expenses (header row)
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Other Income (financial section)
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Other Expenses (financial section)
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Net Other Income (summary row)
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Net Income (formula row)
Header and summary rows are linked. Each summary row is calculated either through a sum of child row amounts or through a specified formula. The Net Income row is a formula row that sums Net Ordinary Income with Net Other Income. Standard Income Statement section data is selected based on account type and is grouped by account.
You can customize the Income Statement in the Financial Report Builder. You can add, reorder, and change the hierarchy of rows. For information see Financial Statement Rows and Editing a Financial Statement Section.
You can use dynamic criteria other than account type for section data, including account name, account number, class, department, location, and, if you are using NetSuite OneWorld, subsidiary. In addition to account type, you can group section data by class, department, location, and if you are using NetSuite OneWorld, subsidiary. You can set formatting options for each row. For more information, see Financial Report Builder. Be aware that the Allow Web Query option is not available for this report.
Also, you can add a Percent of Expense or Percent of Income column to your Income Statement. See Adding a Percent of Income Column to an Income Statement.
To see the Income Statement report:
Go to Reports > Financial > Income Statement.
A message appears indicating that your report is loading. The status bar in the footer of the report indicates the progress as your report loads. Click Cancel Report next to the status bar to stop the report from loading.
In the footer of the report, select from filter lists to refilter report data. You also can select from the Column list to display report amounts by an additional dimension, including time period, class, department, location, or, if you are using NetSuite OneWorld, subsidiary. Click the More arrow button to display all footer lists. For more information, see Setting Report Footer Options.
Inactive classes, departments, locations, and subsidiaries are available as filters to provide historical reporting and to avoid unbalanced totals.
For information about the permissions required to view and customize financial statements, see Permissions and Roles.
The Report by Period user preference determines whether report data is calculated by date range or by period. This preference is available at Home > Set Preferences on the Analytics subtab. To display this report's data by date range, set this preference to Never. To display this report's date range by period, set this preference to All Reports or to Financials Only. For more information, see Choosing a Date or Period Range for a Report.
The Income Statement report may be run on a cash basis. The Cash Basis Reporting preference applies to all standard reports that support cash basis reporting. This preferences is on the General tab under General Ledger at Setup > Accounting > Preferences > Accounting Preferences. If the preference is enabled, the Income Statement Detail is on a cash basis rather than an accrual basis. If this preference is not enabled, you can create a custom cash basis Income Statement by enabling the Cash Basis option on the More Options page of the Financial Report Builder. See Setting Up Cash Basis Reporting.
Click an Account Name to view General Ledger report data for the account. The data in the General Ledger Balance column may vary from data in the Income Statement Amount column. This difference occurs because the Amount column is the account balance from the specified report period only, while the Balance column is a running account balance that includes the amount from the prior period as a beginning balance.
Three key performance indicators (KPIs), Income, Expenses, and Profit, can be added to your dashboard to provide at-a-glance views of totals from the Income Statement report. For more information about KPIs, see Setting Up the Key Performance Indicators Portlet.