How to read your Profit & Loss report

This report answers whether the business made money over a stretch of time. It covers a period with a start and end date. Every figure is the total activity between those dates. It is not a balance. At the end of the year, it resets to zero.

1. In the sidebar, under Reports, press Profit & Loss.
2. Read Revenue at the top, which is net of refunds and discounts.
3. Read Cost of Sales, shown in brackets.
4. Read Gross Profit, which is Revenue less Cost of Sales.
5. Read Operating Expenses, including depreciation.
6. Read Operating Profit, Miscellaneous Income, and Net Profit / (Loss) at the bottom.

1. Use the switch at the top right to select Yearly, Detailed, Monthly, or Summary.
2. Press Summary to see only headline figures without individual account lines.
3. Press Detailed to see every account line with a prior year comparison column.
4. Press Monthly to see one column per month across the fiscal period. The monthly columns leave out depreciation, so use Yearly for the complete statement.

This line appears under Cost of Sales only when stock moved during the period and the Stock in P&L switch on the Stock screen is on. It turns cost into what was used rather than what was bought. A positive figure means stock grew, a negative figure means stock shrank. Cost of Sales is already net of it, so do not add or subtract it yourself.

1. Press Export CSV at the top right.
2. Note that export is available in Yearly, Detailed, and Summary views only.
3. Switch to another view first if you are in Monthly and need a file.

1. Switch to Detailed view and note the account code for the figure.
2. Open General Ledger from the sidebar under Books and select that account.
3. If Revenue is wrong, go to Reports and read the Control reconciliation.
4. Fix the issue in the source module, then reopen this screen.