What is Income and Expense Report and how to download it?

An Income and Expense Report is a financial statement that summarizes the total income earned and expenses incurred over a specific period (monthly, quarterly, or yearly). It helps in analyzing the financial performance of an individual, business, or society.

Income: The Income Section covers all revenue sources, such as money earned from operations like maintenance charges, membership fees, and service charges, as well as other income like interest, donations, penalties, and rental income. 

Expense: The Expense Section outlines the money spent, including operational expenses like salaries, electricity, water, security, and housekeeping. It also covers repairs and maintenance costs such as plumbing, painting, and lift maintenance, as well as administrative expenses like office supplies, printing, and legal fees. Additionally, other expenses like taxes, bank charges, and depreciation are included in the report.

Please follow the steps below to download the Income and Expense Report:

1. Go to Financial Reports and select Income and Expense Report under Final Account.

2. Select the date range and clcik on Download.

3. You can click on View to see the Income and Expense Report.

Note: You can also print the Income and Expense Report.