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Profit and Loss Report
The Profit and Loss Report report summarizes the revenues, costs, and expenses incurred during a specific period of time – usually a fiscal quarter or year. These records provide information that shows the ability of a company to generate profit by increasing revenue and reducing costs.
To access this report, go to Reports > Accounting > Profit & Loss
Report Filters
- Date Range: The date range options you have are All Dates, Last Month, Last Year, This Month, and This Year. You can override the date range via the from/to boxes to the right
- Accounting: You can generate the Profit and loss Report for two types of accounting: cash basis or accrual basis.
For US firms, this setting will default to cash basis, for Canadian firms, this will default to an Accrual basis. You can override your default accounting method under Setup > Firm Settings > Accounting
Report Printing Options
- Include month-by-month breakout: Checking this option will allow you to download month-by month breakout of the report in Excel format with allocations broken down by month for the full year.
- Include year-to-date total: Checking this option will show the year-to-date total. The two columns on the report show allocations for the selected period, and cumulative Year-to-Date totals.
- Include prior year comparison: Checking this option will show amounts from the prior year as well as dollar and percentage differences. This is unchecked by default.
- Include zero balance accounts: Checking this option will include those income and expense accounts which have 0.00 balances. This is unchecked by default
View/Download
Click View to preview the report or to download, select the preferred format (Excel/pdf) and click Download.
Sample Report
Prior Year Comparison
P & L Cash Basis
