Income / Expense Statements are appropriate for Non-Trading Organisations, which generally are not engaged in trading of goods or services and thus the books of accounts comprises of only the sources of Income and expenditure earned/incurred during a given period. This is useful for non-profit organizations such as Trusts, Educational Institutions, NGOs, and Hospitals etc.
You can toggle between Income / Expenditure Statement & Profit & Loss A/c, by pressing F11 feature and set Income/Expense Stmt instead of P & L to Yes or No.
The report menu will display Income & Expenditure A/c instead of Profit & Loss A/c.
The Income & Expenditure Statement is displayed as shown.
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