Profit & Loss

The profit and loss report (P&L), or income statement, is presented in account number order and shows how a company's result (profit, loss or zero result) has been for a certain period of time usually a quarter or a financial year. In a Profit & Loss report you can gain understanding of, among other things, sales, gross profit and profit before and after tax.

Official Reports

In the report selection window you can choose an "Official" printout which presents the report according to Governmental Decree on the information to be presented in the Financial Statements for Small and Micro-businesses. This report has only two columns:  the period and a comparison with the same period last year.

Note: These versions do not contain the audit trail. The drill down can be accesses via the detailed versions of the reports If you are not sure which version to use please check with your accountant.

Read more about how you can affect your Official reports by managing your account classes.

Standard Reports

The standard report has two version:

• Standard: Where you see the sums per account
• Compact: The amounts are summed up per account class
  
  Note: If an account is not connected to an account class it will not appear in the P&L  or balance sheet report.

The reports allows you to make comparisons:

• The default selection has four columns showing:
  • The selected Period
  • The prior year's Period
  • The accumulated amount
  • The accumulated amount for the Prior year 
    
    
• Additional comparison columns are: 
  • The prior year's total
  • The period's budget
  • The accumulated budget 
  • The annual budget 

Note: 

• The default selection is reset at the beginning of each session. During your session, the program remembers what you have selected.
• YTD Figures: Focus on the current fiscal year up to the present date.
  Accumulated Figures: Can refer to any period and are used to show total amounts over that defined period.
  
  

Read more about Budget.

The structure of the reports

The report in all is versions is created by the account class tree structure & the Micro version of the official report (FI) & All the official reports (LT) are created by grouping account classes to Official Groups. Read more about Account Classes & official groups.

Including Drafts 

You can choose to include journal drafts in the Profit & Loss report to simulate how the journals would affect your accounting before you actually post them. Read more.