Profit and loss reports

To see if your organisation is trading profitably you can run a profit and loss report. You can do this for the current month or a range of months within your current financial year. Balances posted before the start of the financial year appear as a previous year adjustment on the balance sheet.

The profit and loss report shows the nominal ledger account balances grouped by sales, purchases, direct expenses, overheads and taxation. The amount of gross and net profit that you made also appears. The structure of the profit and loss is based on the Chart of Accounts that you choose when you run the report. You can customise the Chart of Accounts structure or create new ones to suit your business needs. Find out more

Tip: Additional profit and loss reports are available within Financials > Reports > Management analysis, and Company > Department > Reports > Profit and loss.

Are you liable for corporation tax? Your Profit and Loss report shows profit before and after tax and uses the nominal account assigned to taxation within the Chart of Accounts. When you know how much your corporation tax liability is, to move the amount to the taxation nominal account, normally 9001, post a journal debit to nominal account 9001 and a journal credit to 2320. When you pay your corporation tax, post a bank payment to nominal account 2320.

To generate the Profit & Loss

Company > Links pane > Financials > Profit & Loss.

Select the required output as follows:

Printer	Prints the report.
Preview	Use this to see the report on-screen. Tip: From the report preview you can then run the report to printer, file or email.
File	Saves the report to file, for example, to print at a later date.
Email	Sends the report by email.

To generate the report, click Run > enter any required criteria > OK.

View criteria

Tip: When you preview the Profit & Loss you can drill-down on the values to see a breakdown. Find out more

To generate the Comparative Profit & Loss

Company > Links pane > Financials > Comparative Profit & Loss.

Select the required output as follows:

Printer	Prints the report.
Preview	Use this to see the report on-screen. Tip: From the report preview you can then run the report to printer, file or email.
File	Saves the report to file, for example, to print at a later date.
Email	Sends the report by email.

To generate the report, click Run > enter any required criteria > OK.

View criteria

Period	From the drop-down lists, choose the accounting periods you want to include.
Chart of Accounts	From the drop-down list, choose the Chart of Accounts you want to use for your report. A default Charts of Accounts is available or you can create as many of your own as you need. Find out more
Budget	From the drop-down list, choose the budget option you require as follows: Do not show – Excludes budget values from the report. Show – Shows budget values with no variance values. Show, with variance (Variance value only) – Shows budgets with variance values. Show all (Variance as both a value and a percentage) – Shows budgets with variance values and variance percentages.
Prior Year Values	From the drop-down list, choose the option you require as follows: Do not show –Excludes prior year values from the report. Show – Shows prior year values with no variance values. Show, with variance (Variance value only) – Shows prior year values with variance values. Show all (Variance as both a value and a percentage) – Shows prior year values with variance values and variance percentages.

To generate the Transactional Profit & Loss

Company > Links pane > Financial Reports > Profit and loss.
Select Transactional Profit & Loss > from the toolbar click Preview, Print, Export, Excel or Email as required. Find out more

Enter any required criteria > OK.

View criteria

Chart number	From the drop-down list, choose the Chart of Accounts you want to use for your report. A default Charts of Accounts is available or you can create as many of your own as you need. Find out more
Group by Tran Number	To run your report for a transaction number range, select this check box. If you want to run the report for a date range, clear this check box.
Transaction date	If you have not selected the Group by Tran Number check box, enter the transaction date range that you want to run the report for. Note: If you have selected the Group by Tran Number check box, any date range you enter does not affect the report and only the transaction numbers determine the report values.
First Transaction of Year	If you have selected the Group by Tran Number check box, enter the transaction number of the first transaction posted in your current financial year. The report uses this to identify any previous year adjustments.
Transaction number	If you have selected the Group by Tran Number check box, enter the transaction number range you want to run the report for. This is used to calculate the period and year to date values.
Department number	You can run this report for specific departments. If required, enter the department range you want to run the report for.

To generate the Income & Expenditure (Charities) or Profit & Loss (with Prior Year Values

Company > Links pane > Financial Reports > Profit and Loss.
Select Income & Expenditure (Charities) or Profit & Loss (with Prior Year Values).
From the toolbar, click Preview, Print, Export, Excel or Email as required. Find out more

Enter any required criteria > OK.

View criteria

Profit and loss reports

To generate the Profit & Loss

To generate the Comparative Profit & Loss

To generate the Transactional Profit & Loss

To generate the Income & Expenditure (Charities) or Profit & Loss (with Prior Year Values

More information