1.
All financial statements are printed for one accounting period
at a time, or for a selected quarter.
2. The income statement can be printed for one
profit center at a time, or all profit centers to show
consolidated results for the entire company.
3. Accounts are subtotaled by customizable classes
and subclasses. Every G/L account will belong to a class
(income, job costs, expenses for example), and subclasses
provide a second level of grouping. |
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4.
In the income statement, all classes are totaled for readability.
5. Gross profit shows your income less direct
job costs. It's your gross margin, or the profit you've
made before overhead expenses. Gross profit - overhead
expenses = net income (not shown here).
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6. The
income statement compares period-to-date balances with year-to-date
totals, making it easier to see month-to-month trends in the business.
7. The % column shows each account's totals as a
percentage of total billings or AGI (i.e., agency gross
income), depending on which income statement you run. They
make it easy to compare your company to others using industry
standards. It's also a good way to compare from one year
to another.
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