Income Statement

This guide explains the Income Statement report of MyCloudBook: how to open it, how to read the income, the expenses, and the net income of a period, how to compare periods, and how to print the report or download it as an Excel file.

Overview

The Income Statement, also called the profit and loss statement, shows the result of the company for a period: the income, the expenses, and the Net Income, which is the income minus the expenses. A positive Net Income is a profit, and a negative Net Income is a loss.

MyCloudBook builds the report from the journal posts of the period on the accounts of the types Income and Expenses. The report can show one column for the whole period, or one column for every year, quarter, or month, with a total column.

How to open the report

In the left navigation, click Reports. The Reports tab lists the reports in four groups.
In the group Standard Accounting Reports, double click Income Statement.
The report opens in its own tab and is created at once with the default settings. When the tab is open already, it becomes the active tab and keeps its settings.

A report tab can be closed with its x. The next double click opens the report again with the default settings.

The Reports page of MyCloudBook with the groups Standard Accounting Reports, Aging Reports, Sales Reports and Tax Reports. — **Figure 1.** The Reports page.

The report screen

The report screen has two parts. The center shows the report as a Portable Document Format (PDF) document in the PDF viewer of the browser. The Report Setting panel at the right holds the settings of the report. After a change of the settings, click Reload to create the report again. The arrow in the header of the panel hides the panel, so the report gets more room.

The example shows the first nine months of 2026 of the example company Bright Bean Coffee Co.

The Income Statement of Bright Bean Coffee Co. from Jan 01, 2026 to Sep 30, 2026, with the income 4,804.00, the expenses 1,315.00, the net income 3,489.00, and the Report Setting panel. — **Figure 2.** The Income Statement.

The settings

Field	Required	Purpose and rules
From Date	Required	The first day of the period. It must not be after the To Date. Both dates are part of the period.
To Date	Required	The last day of the period.
Display By	Required	Total Only (the default) shows one column. Years, Quarters, and Months show one column for each period, and a Total column at the right.

How to read the report

Line	How MyCloudBook computes it
Income accounts	The credits minus the debits of the posts of the period. Invoices and receipts add their lines without sales tax. Credit notes lower the income.
Expense accounts	The debits minus the credits of the posts of the period: the lines of bills and expenses, and the cost of goods sold of the stock products that the company sold.
Total Income, Total Expenses	The sums of the two sections.
Net Income	Total Income minus Total Expenses.
Rows that are not listed	An account without an amount in every column. A main account, because its sub accounts carry the amounts.
Negative amounts	An amount with a minus sign is a movement on the other side of the account, for example refunds that are larger than the income of the account.

In the example, the company sold for 4,804.00 from January to September. The expenses were 1,315.00: the cost of the goods it sold (501 Cost of Sales, 840.00), purchases, store supplies, and repairs. The Net Income is 4,804.00 minus 1,315.00, so 3,489.00.

Comparing periods

With Display By Years, Quarters, or Months, the report has one column for each calendar period from the From Date to the To Date, and a Total column at the right. A period that starts or ends inside a month is named with its two dates.

The Income Statement by months with the columns Aug 2026, Sep 2026 and Total. — **Figure 3.** The Income Statement by months.

Printing and Excel

To print the report, click the print button of the PDF viewer. To keep it as a PDF file, click the download button of the PDF viewer.
To work with the figures in a spreadsheet, click Download Excel. MyCloudBook creates the report with the settings of the panel and downloads it as Income Statement.xlsx. The Excel file has the same rows, a header that stays visible, and a print setup with page numbers.
The report shows the posted data at the moment of the Reload. After new documents are saved, click Reload again.

Messages and their meaning

Message	Cause	What to do
FromDate must be before ToDate.	The From Date is after the To Date.	Select a From Date on or before the To Date.
This field is required	A date field of the Report Setting panel is empty.	Select a date.

Questions and answers

What does the Income Statement of MyCloudBook show?

The income accounts and the expense accounts of a period with their amounts, the totals of the two sections, and the Net Income, which is the income minus the expenses.

Is the sales tax part of the income?

No. The sales tax that the company collects belongs to the tax agency, so it is posted to Tax Payable. The income accounts receive the lines of the invoices and receipts without tax.

Where is the cost of the products that the company sold?

In the Expenses section, on the account of the cost of goods sold, for example 501 Cost of Sales. MyCloudBook posts the cost of a stock product when an invoice or a receipt sells it.

How do I compare the months of a year?

Set the From Date to January 1, set Display By to Months, and click Reload. The report shows one column for each month and a Total column.

Can I open the Income Statement in Excel?

Yes. Click Download Excel. MyCloudBook downloads the report with the same settings as Income Statement.xlsx.

Related guides

Balance Sheet. The assets, liabilities, and equity on a date.
Cash Flow Statement. How the cash of the company changed in a period.
Trial Balance. The movements of every account in a period.
Sales Summary. The income of the company by period.
Chart of Accounts. The income and expense accounts.