Profit & Loss
The Profit & Loss statement (also called an income statement) summarises your company’s revenue and expenses over a selected period to show your net income. You can optionally compare two periods side by side to track financial performance over time.
Accessing the Profit & Loss
Section titled “Accessing the Profit & Loss”Navigate to Finance > Profit & Loss from the main menu.
Running a report
Section titled “Running a report”The Profit & Loss is an on-demand report. Configure the date range and click Run to generate it.
- Set the From Date (defaults to the start of the current year).
- Set the To Date (defaults to today).
- Optionally set a Comparison From and Comparison To date range to compare against a prior period.
- Click Run.
Metrics
Section titled “Metrics”Once the report is generated, the following are shown:
| Metric | Description |
|---|---|
| Period | The from and to dates and fiscal year periods |
| Net Income | The net income (revenue minus expenses) for the selected period |
| Comparison Net Income | The net income for the comparison period, if selected |
Report structure
Section titled “Report structure”The report is organised into the following sections:
Revenue
Section titled “Revenue”All income accounts with activity in the period. Each line shows the account code, account name, and the total amount for the period (and comparison period, if selected).
A Total Revenue subtotal is shown at the bottom of this section.
Operating Expenses
Section titled “Operating Expenses”All expense accounts used for operating costs in the period, with the same structure as Revenue.
A Total Operating Expenses subtotal is shown at the bottom of this section.
Other Income and Expenses
Section titled “Other Income and Expenses”Income or expense accounts that fall outside operating activities (e.g. interest earned, interest paid).
Net Income
Section titled “Net Income”The calculated net income:
Net Income = Total Revenue − Total Operating Expenses ± Other Income/ExpensesPositive net income is shown in green; negative (a net loss) is shown in red.
Period comparison
Section titled “Period comparison”When a comparison date range is selected, an additional column appears alongside the primary period amounts. This lets you compare current performance against a prior period — for example, comparing the current quarter against the same quarter last year.