Profit And Loss Report
Your Profit & Loss report is the financial report that details whether or not your organisation is trading profitably.
You can calculate a profit & loss for the current month or for any range of consecutive months within your current financial year. Balances posted before the start of the financial year will appear as a previous year adjustment on the balance sheet.
The standard Profit & Loss report shows the balances of each of your income and expenditure nominal ledger accounts grouped into categories and sub-totalled to show Sales, Purchases, Direct Expenses And Overheads. The amount of Gross Profit and Net Profit that you made is also shown.
To set up your own Profit & Loss report layouts use the Chart of Accounts option from the Nominal Ledger toolbar to select how you want your nominal ledger accounts to be grouped and what text is to be used for the headings.
Only those categories that have been specified in the layout and those nominal accounts that have been used are shown on the report.
Related Topics
To Run The Profit and Loss Report
To Print an Audit Trail Report
To Run the Balance Sheet Report