Profit & Loss Report
The Profit & Loss report (also called Income Statement) shows your income, expenses, and net profit over a period of time.
Running the Report
- 1 Navigate to Accounts → Reports → Profit & Loss
- 2 Select the date range
- 3 Choose comparison period (optional)
- 4 Click Generate
Report Structure
Income
All revenue from sales and services
Cost of Sales
Direct costs of goods/services sold
Gross Profit
Income minus cost of sales
Operating Expenses
Rent, wages, utilities, etc.
Net Profit/Loss
The bottom line