Profit and Loss

One of the main reasons for keeping accounts is to ascertain the overall profitability of your business. The 'Profit and Loss' report provides a snap shot of this profitablity for a selected period. The report lists all the sale income for the selected income, breaking this down by income accounts, calculating the total income,  the cost of goods for sale, and listing all the expenses of running the business.

The profitablity of your business is identified by deducting the total expenses and cost of goods purchases from the total sales income. The report then lists the income accounts followed by the Cost Of Goods accounts and finally expense accounts. This provides an overal view of the profitability for the selected period.

You may also analyse a specifiy enterprise by selecting the 'Profit And Loss Selected Enterprise' report. This will list only the accounts associated with the enterprise.

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