Comparative income statement

The Comparative income statement provides a detailed view of a company's financial performance over time, enabling businesses to compare income, expenses, and profits across multiple periods.  

Prerequisite

1. Logicim XLGL version 5.0 or higher  
2. Microsoft Excel 2016 or higher 
3. Sage 50 US edition (2021 and above) 

What the Report does 

The Comparative income statement includes three views of financial performance: 

1. Monthly: Displays income statement details for each month in the selected year. 
2. Quarterly: Summarizes income statement data into quarterly totals. 
3. Yearly: Provides an annual comparison of income statement data for the past five years, with the option to add additional years.  

How to use the Report 

1. Open the Report workbook. 
2. Go to the Parameters sheet. 
3. Input your desired year: Locate the input cell and type your desired year (ex: 2024). 
4. Click the Refresh data button (if applicable) to update the Report. 
5. Review the results: 
6. Monthly sheet: View income and expenses for each month. 
7. Quarterly sheet: Analyze quarterly totals. 
8. Yearly sheet: Compare data for the last five years. 

 Customization options 

1. Adjust the desired year in the Parameters sheet to generate data for a different period. 
2. Add additional years to the Yearly sheet. To add a new year: 
3. Copy column H (last year’s data). 
4. Paste it into the desired column. 

 Common use cases 

1. Annual financial reviews to assess profitability trends. 
2. Quarterly board meetings for performance comparison. 
3. Monthly operational assessments to identify income or expense fluctuations. 

Troubleshooting 

1. Issue: No values appeared in the newly added year. 
2. Solution: Verify that the formulas in the new column match those in the previous columns. You may unhide rows 1 and 2 to check the Start date and End date of the specific column/year. 

FAQs 

1. Q: Can I compare more than five years on the Yearly sheet? 
2. A: Yes, you can copy and paste additional columns as described in the Customization options. 

Best practices 

Save a backup copy of the Report before making significant changes. 

Related articles

See also: XUSFinancial