Income and expense statement
Also known as: income statement, financial report, activity report
Definition
The core report presented to the owners' assembly, showing item by item the income received and the expenses incurred by the management in a period.
The income side includes items such as dues, fuel and other collections, and common-area rent; the expense side includes staff, energy, maintenance, insurance and management costs. The difference between the two shows the period's surplus or deficit.
Preparing the statement monthly and by category makes comparison with the budget easier. The audit report and the discussion on releasing the manager at the owners' assembly are usually based on this statement.
In CasaX
In CasaX, the monthly income and expense statement and the category-based expense report are always ready and can be presented to the assembly as Excel or PDF.
This content is for general information only and is not legal or financial advice. Legislation may change; consult a professional about your specific situation.