The Profit & Loss Statement shows whether the business made money in a period. It lists every income and expense account that had activity in the period you choose, with a total for each side.
Open the statement
- Click Reports in the sidebar.
- Choose Financial. The Profit & Loss Statement opens first.
You can also open it from the Financial Reports card on the Reports page.
Choose the period
The statement opens on This Financial Year (April to March).
- Click the date picker at the top of the amount column.
- Choose Today, Last 7 Days, Last 30 Days, This Week, This Month, This Quarter, Last Financial Year, This Financial Year, All Time or Custom Date.
- For Custom Date, pick the start and end dates and click Apply.
The figures reload as soon as the period changes. The lines under the title confirm the company name and the period shown.
Read the statement
- INCOME — each income account with activity in the period, then Total Income.
- EXPENSES — each expense account, including cost of goods sold, then Total Expenses.
Total Income minus Total Expenses is your profit or loss for the period. Accounts with nothing posted in the period are hidden, and a dash means zero. The figures come from the entries that your invoices, bills, notes, payments and journals post to your accounts.
Compare two periods
- Click +Compare beside the statement.
- In the new column's date picker, choose the period to compare with, for example Last Financial Year.
A Change +/- column shows the difference in ₹ for every line and for both totals. To go back to a single period, click the red close button next to the comparison date (Remove comparison).
Export the statement
- Click the export icon at the top right.
- Choose Download as CSV or Export As PDF.
The file uses the period on screen, and the comparison period if you've added one. It's headed with your company name and GSTIN.
Tips
- To see the entries behind an amount, open that account in the General Ledger report.
- This financial year's profit also appears on the Balance Sheet as Current Year Earnings.
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