This summer, while I am on vacation, I am reposting some previous columns, albeit with minor edits. These are columns that are largely timeless. Also, they are hard to find on the current website as when I migrated over from the old one, all my old posts were consolidated into one entry. Enjoy!
Originally posted July 25, 2021 — the secret ingredient for a useful income statement report
The generic income statement report is one I frequently run, because it’s so useful. But there is one option that makes it especially useful.
Specifically, specify -S, to sort from largest to smallest subtotals. Without the sort, the expense categories appear in alphabetical order. Not bad, but seeing the categories ranked by amounts makes it easier to get a grasp on what is more significant and what is less significant. Let’s face it, if your Expenses:Zebras subtotal is relatively large, shouldn’t it be listed near the top?
In short, the income statement report, using the -S option is a heavy hitter in making clear what is happening with our household expenses and income. It helps focus in on the larger line items, the ones that potentially can make the greatest difference.