# Read the income statement

Review revenue, expenses and income for a selected date range.

Canonical: https://demo.qixcount.com/help/reports/income-statement

Who can do this: Owners, or people with *View financial reports*

Where: Reports, then Income statement

The income statement shows revenue and expenses for a period. The report body is headed **Statement of Operations**. You need **View financial reports** permission, or owner access.

## Generate the report

1. In General, open **Reports**. In Nonprofit, use **Other reports** under **Nonprofit**, **Reports**, or the shared **Reports** group when shown.
2. Select **Income statement**.
3. Enter **From Date**.
4. Enter **To Date**.
5. Select **Generate**.

The initial range runs from your current fiscal year's start through today. Figures use posted activity dated within the range, including both endpoints. Year-end closing entries and their reversals are excluded from activity.

![Income statement date filters, summary cards and statement](https://demo.qixcount.com/images/help/reports-income-statement.webp)

## Read the totals

| Figure | How QixCount calculates it |
| --- | --- |
| **Net Revenue** | Operating revenue minus sales discounts and returns. |
| **Gross Profit** | Net revenue minus cost of goods sold. |
| **Operating Expenses** | Expenses grouped as operating expenses by account subtype. |
| **Operating Income** | Gross profit minus operating expenses. |
| **Net Income** | Operating income plus other income, minus other expenses and tax expense. |

In Nonprofit, **Change in net assets** replaces Net Income on screen. Gross Profit is hidden when there is no cost-of-goods line. The PDF uses the same Nonprofit wording.

Account subtypes determine where amounts appear. Rows with no activity are omitted. General includes inactive revenue and expense accounts with activity in the period; Nonprofit includes accounts with posted Nonprofit activity even when an account is inactive.

In General, negative account activity reduces its total. Check unusual balances or reversals in the general ledger when comparing results.

The summary cards round to whole dollars. The statement's account rows show cents. Margin percentages divide gross profit, operating income or net income by net revenue; they show N/A when net revenue is not positive.

## Compare or request an explanation

Use **Compare With** for **Previous Period** or **Same Period Last Year**, then select **Generate**. Each account row then shows its amount for the earlier dates, and totals include every account. An account with activity only in the earlier dates still gets a row, showing no amount for the current dates. The [PDF and Excel exports](https://demo.qixcount.com/help/reports/export-and-print-reports) show the same comparison.

Select **Analyze** to request Qix's explanation of the applied dates and comparison. **Ask Qix** opens the chat.

## What happens next

Use the [cash flow statement](https://demo.qixcount.com/help/reports/cash-flow-statement) to review cash movement for the same dates. Net income and cash movement measure different things.