NetSuite Income Statement Report for the Previous Three Periods

Navigating the intricacies of financial management is essential for any business striving for success. NetSuite ERP offers a comprehensive solution for streamlining operations, including robust reporting capabilities that empower businesses to make informed decisions.

In this guide, we delve into one of the fundamental financial statements – the NetSuite Income Statement – and explore how to leverage its insights for strategic decision-making. Whether you’re a seasoned finance professional or a business owner seeking clarity on your company’s financial performance, understanding how to generate and interpret NetSuite Income Statements for the past three periods can provide invaluable insights into profitability and expenditure trends.

The NetSuite Income Statement is a Financial Statement that shows its Income and Expenses. It not only demonstrates the company’s profitability but also indicates whether it has incurred a profit or loss over a specific period.

The purpose of this report is to find out the results from the previous three months.

Navigate to Reports  >  Financial  >  Income Statement.

 

Click on the Customize button on the Income Statement Report.

Enter the Title for the Report.

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Go to the Edit Columns tab, Under Add Fields – Expand the Financial section

Select the Amount field three times .

Select the First Amount column,

Alternative Period Range Type = Relative to today’s date.

Alternative Period Range = Same Period Last Fiscal Quarter.

Select the Second Amount column,

Alternate Period Range Type = Relative to today’s date.

Alternative Period Range = Period Before Last .

Select the Third Column Column, 

Alternative Period Range Type = Relative to today’s date.

Alternative Period Range = Last Period .

Click the Save Button and view the Results .

Navigating Netsuite ERP and its reporting functionalities can be daunting without the right guidance. That’s where a NetSuite consultant comes into play, offering expertise and support to ensure you harness the full potential of your ERP system. From customizing reports to interpreting key metrics, we’ll equip you with the knowledge to navigate NetSuite ERP with confidence and clarity. Schedule a consultation with us today.