What Is the Income Statement?
The Income Statement shows your company’s profitability over a specific period. It includes the business’s revenues and expenses.
ℹ️ Note:
The Income Statement appears in a summary view when only the Expenses app is installed.
To view it in detail, you must install the Accounting app.
Why the Income Statement Matters
It provides detailed information on your revenues and expenses.
It helps you identify whether your business is making a profit or incurring a loss.
It allows you to evaluate profitability and compare performance with previous periods for better decision-making.
ℹ️ Note:
Rewaa accounting system automatically updates the Income Statement whenever journal entries are recorded — whether they are automated or manual — so you don’t need to calculate or enter any formulas manually.
Accessing the Income Statement
Go to Reports > Financial > Income Statement.
Click the report to view details.
Select the desired time period.
Choose the location.
The data will appear based on your selections.
Filtering Results
You can filter the report by Cost Centers:
Click Filter.
Select the Cost Center.
Click Apply.
The results will update based on the selected Cost Center.
ℹ️ If you haven’t added any Cost Centers, a message will appear: “No cost centers have been added.”
To learn how to add a Cost Center, [click here].
How to Read the Income Statement
ℹ️ The details appear based on the selected date range.
The report starts with Revenues, followed by Expenses.
Account names appear on the right, and their total balances appear on the left.
Sub-accounts are displayed under their parent accounts following the Chart of Accounts hierarchy.
Totals appear below each account group, and a final total is shown for the entire report.
At the end of the report, you’ll see:
Operating Profit
Net Income
ℹ️ The total row appears in gray.
ℹ️ If a number appears in parentheses, it means the balance is negative (debit).
How Profits and Net Income Are Calculated
Gross Profit = Total Revenues – Total Direct Costs
Operating Profit = Gross Profit – Total Operating Expenses
Net Income (Profit or Loss) = Total Revenues – (Total Direct Costs + Total Expenses + Taxes + Other Costs)
Exporting the Report
Click Export.
To export as an Excel file, select Excel File.
To export as a PDF file, select PDF File.
The file will be downloaded to your device.
FAQs
1. What types of expenses are included in the Income Statement?
Operating Expenses: such as salaries, rent, and utility bills.
Depreciation Expenses: such as machinery and fixed assets.
Interest Expenses: such as bank fees.
Direct Costs (Cost of Goods Sold): such as raw materials and labor costs.
2. What is the purpose of the filter next to the date?
It filters the results by Cost Centers.
3. Can I print the Income Statement directly from the platform?
No, the Income Statement cannot be printed directly from Rewaa.
However, you can print it after exporting it as an Excel or PDF file.