Income Statement By Store
Last updated
Was this helpful?
Last updated
Was this helpful?
The Income Statement By Store report in XoroERP serves as a fundamental tool for businesses to evaluate their financial standing. It offers a comprehensive breakdown of income and expenses, aiding users in assessing their profitability. This report categorizes financial activities based on stores, providing a clear view of revenue generation and cost allocation across different store locations or inventory sets. In XoroERP, a Store refers to a Warehouse or an Inventory set, managed through the Store module for organizing various physical or virtual locations of a business.
After choosing the Income Statement By Store option, the system prompts you to choose a document template. Select the report template from the "Select Document Template" dropdown to open the report.
Key features of the Income Statement By Store report include:
Detailed Breakdown: The report provides a detailed breakdown of income and expenses attributed to each store, enabling users to analyze financial performance on a per-store basis.
Revenue and Cost Allocation: Users can track revenue generation and cost allocation accurately, helping in identifying profitable stores and areas needing cost optimization.
Monthly Segregation: The report segregates income and expenses monthly, allowing users to spot trends, seasonal variations, and monitor financial performance over time.
Store Management: Integrated with the Store module, users can create, edit, and manage stores within XoroERP, ensuring accurate financial reporting based on store-specific data.
Virtual Inventory Sets: The report caters to virtual inventory sets as well, accommodating businesses with multiple online or virtual stores.
Income Statement By Store
In XoroERP's Income Statement By Store report, the layout is structured with three primary columns: Account Name, Store, and Amount segregated monthly. The Store categories can range from physical store locations, virtual inventory sets, or different business segments. Let's explore each of these components in detail from a technical standpoint:
Account Name
This column lists the specific accounts under which financial transactions are recorded, providing a detailed breakdown of income sources and expense categories. It includes revenue sources like sales revenue, service fees, interest income, and expense categories such as cost of goods sold, operating expenses, and taxes. The Account Name section offers a granular view of the various financial activities within the business.
Store
The Store column categorizes transactions based on store locations, inventory sets, or different business segments. These stores can represent physical store locations, virtual inventory sets, or any other store classification relevant to financial analysis. For instance, Store A may represent a physical store location, Store B could denote transactions from a specific virtual store, and Store C might signify transactions from a specific business segment. Classifying transactions based on stores allows for detailed performance analysis across different store locations or business segments.
Amount Segregated By Store
The Amount column displays the monetary values associated with each Account Name and Store combination, segmented on a monthly basis. This segmentation is based on Store categories such as physical store locations, virtual inventory sets, or different business segments. By segregating amounts based on stores, users can perform focused analysis and gain a better understanding of performance within distinct store locations or business segments.
Income Statement Account Details (By Store)
Txn Number
This is a unique identifier assigned to each transaction within the system. It helps in tracking and referencing specific transactions for auditing, reporting, and record-keeping purposes.
Txn Type
This refers to the nature or category of the transaction, such as sales, expenses, refunds, deposits, or transfers.
Txn Date
This is the date on which the transaction occurred or was recorded in the system. It is crucial for chronological organization and analysis of financial data.
Account Name
This is the name of the account under which the transaction is recorded. It helps in categorizing transactions into different accounts based on their nature, such as revenue accounts, expense accounts, asset accounts, and liability accounts.
Entity Name
This shows the entity or business unit associated with the transaction. In a multi-entity environment, this helps in identifying which part of the business the transaction belongs to.
Ref No.
This is an additional reference or identifier associated with the transaction, which may include invoice numbers, purchase order numbers, or other unique identifiers for cross-referencing and tracking purposes.
Item
This refers to the specific item or product involved in the transaction, such as inventory items, services, or tangible goods. It provides detailed information about what the transaction relates to.
Memo
The memo field allows users to add additional notes or descriptions related to the transaction. It can include details about the purpose of the transaction, specific instructions, or any other relevant information.
Store
This shows the store or location associated with the transaction. In a multi-store setup, this field helps in identifying which store or branch the transaction originated from or is related to.
Amount
This is the monetary value or amount associated with the transaction, indicating the financial impact of the transaction on the accounts involved. It helps in calculating totals, balances, and financial performance metrics.
XoroERP's Income Statement By Store offers a comprehensive overview of income data sorted by store. The drill-down feature allows seamless access to detailed financial information. When viewing the report on-screen, users can utilize the XoroERP Drill-down feature by clicking on specific values like amounts to open individual transaction records. This interactive functionality enables efficient navigation through the report to access specific financial details. Here's a guide on leveraging these interactive elements:
Access the Income Statement By Store in XoroERP.
Select the Account Type, Store, and the desired month for detailed information.
Click on the corresponding amount number linked to the chosen record to view further details. This action allows you to explore the transactions associated with that particular Account Type, Store and Month in greater depth, providing a comprehensive view of financial activities and performance during the selected period.
Review the detailed financial information presented in the Transaction record, including Transaction Type, Date, Account Name, Entity Name, Reference Number, Store, and Amount.
Identify the Transaction Number in the report you want to view further, then click on any column value associated with it to open the corresponding Transaction record. This will navigate you to the journal view of the selected record.
To filter the data, enter a desired date range in the "From" and "To" fields on the right side of the screen. After entering the desired date range, click on "Preview" to display only the transactions that fall within the selected date range.
Refresh: This allows you to refresh the search results after changing the search criterion.
Toggle Print View: This feature enables you to switch the display mode specifically for printing the report. When activated, it adjusts the formatting and layout of the report to optimize its appearance when printed out.
Toggle Parameter Area: This functionality enables you to switch the parameter area's visibility, located on the right side of the Income Statement By Store window. Toggling this setting allows you to show or hide the parameter options, giving you more control over the display and customization of the Income Statement details.
Download: This versatile feature allows users to export and download data in various file formats, providing a summarized overview for quick reference. Options include CSV, TXT, MS-Word, MS-Excel, PDF, and MS Excel (.xlsx), catering to diverse user preferences and use cases.
Advanced Search: The Advanced Search option elevates customer information retrieval to a sophisticated level. Users can delve into a nuanced search by specifying criteria facilitating precise and tailored searches.
Zoom In and Zoom Out: These features in XoroERP's reporting module allow users to adjust the view of the report according to their preferences. Zooming In increases the size of the report elements, making them easier to read and analyze, while Zooming Out decreases the size for a broader view. These options are particularly useful when dealing with detailed reports or when users need to focus on specific sections of the report.
Toggle Full Page Width: This feature enables users to toggle between displaying the report at its full page width or adjusting it to fit the screen width. When toggled to Full Page Width, the report expands to utilize the entire width of the viewing area, ensuring that all elements are fully visible and enhancing readability. On the other hand, toggling off Full Page Width may be useful for viewing multiple reports simultaneously or when a narrower view is preferred for better organization of the workspace.
