A Profit and Loss Statement is a report that shows net profit/loss for the business. More information about Profit and Loss statements can be found here.
Profit and Loss is calculated by using two business equations commonly used in Accounting:
- Sales - Cost of Goods Sold = Gross Profit
- Gross Profit - Total Expenses = Net Profit/Loss
Net Profit/Loss is the bottom line number for your business.
Click on "Reports", and then select "Profit and Loss".
Define your timeframe by selecting a Start Date and End Date while using the calendar, then click "Apply".
You may toggle transaction listings to show/hide by clicking "Show Transactions".
Tip 1: The body of the report can be copied and pasted into a spreadsheet program so you can perform advanced financial analysis.
Tip 2: You can create a PDF of the report by using the Print Function to create a PDF in OSX and Windows, a "Print to PDF" option is available.
KeywordSearch: Profit and Loss, Income Statement, Net Income, Bottom Line, Net Earnings, Net Profit, Net Loss, Report