Practitioner Edition

12.6 Reports: Sample Reports – Income

The Income Reports category provides Operating Statements in simple, comparative or detailed format.

All income reports all provide filters to report on the Entire Fund, Fund or selected member account, for a selected financial year.

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12.6.1 Operating Statement

An Operating Statement lists all Income and Expenses, categorized according to type (General Ledger account) and provides a total amount of Benefits Accrued as a Result of Operations.

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12.6.2 Operating Statement Comparative

A comparative operating statement is identical to an operating statement except that it compares income for the selected year with the previous financial year (assuming records were kept in Mclowd for the previous year.)

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View Operating Statement Comparative in PDF format.

 

12.6.3 Detailed Operating Statement

Like other Operating Statements, the Detailed Operating Statement lists income and expenses to compute the total Benefits Accrued as a Result of Operations. However, the detailed Income Report provides full details of each income and expense transaction, grouped according to the general ledger account to which they were assigned, and noting the transaction reference number and amount.

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View Sample Detailed Operating Statement in PDF Format

 

 


about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding. Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.

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