Income statement

Meaning

The income statement has to be included in the annual report. It shows profit and loss for the past fiscal year.

Key points

• Income statement appears frequently in invoicing, payment handling, and bookkeeping workflows.
• The term improves clarity between clients, suppliers, and accounting teams.
• Consistent use supports cleaner documentation and better reporting quality.

Practical use

In Nexbal workflows, income statement is used to keep invoice and payment operations structured and auditable.