How to use the Profit & Loss

The Profit & Loss (P&L) for your business shows how much net profit (or net loss) your business made during a certain period. It does this by categorizing accounts into sections for sales (revenue), cost of sales, operating expenses, and other income/expenses. The net result of these sections is the net profit (or net loss) for the period.

Below is a step-by-step guide on how to use the Profit & Loss. For more detailed instructions, click here.

1. How to Start

You will find the Profit & Loss report in Essentials -> Report.

Click on the field behind the Run button, and select the desired financial period from the dropdown menu.

Click on the Run button to retrieve the latest version of your Profit & Loss report.

2. Choose a layout

The report gives you a snapshot of how your business is doing as per the end of the financial period you selected, compared to your budget. The Profit & Loss report offers many different ways (we call them Layouts) to view your numbers. You can freely switch between all layouts, and even personalize them.

screenshot analyze reports

3. Filter the data

You can make the report show only the information that matters to you. For example, you can filter the report to show just one department, one company, or one financial period. To filter the report, use the filters on the top of every layout. To show all data, simply leave the filters empty.

screenshot analyze reports filters

4. Choose from Actions

When running a report, you can click the Actions button in the right-top of the screen to open a dropdown menu with further options:

  • Change layout
  • Export to Excel or PDF file
  • Print the report
  • Add to dashboard

screenshot analyze reports actions

5. Change the layout

To change the layout, click the Actions button in the top right corner of the screen, and then select Change layout. You will see a list of all available fields in the report, which you can drag and drop into the desired section in the report. For more detailed instructions on changing a report layout, click here.

screenshot define reports layouts

6. Export to Excel or PDF

To export the current layout to Excel, or to a PDF file, or to print it, click the Actions button in the top right corner of the screen, and then select Export data or print.

You can export the report to a large variety of file formats, Excel and PDF being the most often used.

screenshot export excel

7. Add to dashboard

To add the current layout to your personal dashboard, click the Actions button in the top right corner of the screen, and then select Add to dashboard.

You can add the report to an existing dashboard, or create a new dashboard.

screenshot dashboard reports edit

By following these steps, you'll be able to understand your business's financial performance and make strategic decisions.

If you like to read more detailed instructions, click here.

Recommended reading:
Back to top | Overview | Cashflow Statement

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