Profit & Loss Report

Guide 27: Profit & Loss Report

Track business income vs expenses

Overview

The Profit & Loss (P&L) report shows your business income, expenses, and net profit for a period. Essential for understanding business performance and preparing taxes.

Running the Report

1. Go to Reports → Profit & Loss
2. Set date range (month, quarter, year)
3. Filter to business categories (optional)
4. Click Run

Report Structure

The report uses a QuickBooks-style tabular layout with columns for the selected period, making it easy to scan income and expense lines at a glance.

INCOME
  Client Income          $15,000
  Product Sales           $3,500
  Other Income              $200
  ─────────────────────────────
  TOTAL INCOME           $18,700

EXPENSES
  Advertising               $500
  Contract Labor          $2,000
  Office Supplies           $350
  Software                  $800
  Travel                  $1,200
  Meals                     $400
  ─────────────────────────────
  TOTAL EXPENSES          $5,250

NET PROFIT               $13,450

Key Features

• Compare periods - This month vs last month
• Drill down - Click any number to see transactions
• Percentage view - See expenses as % of income
• Personal / Business / Both - Filter transactions by type to show only personal, only business, or combined
• Export - PDF for records, CSV for analysis

Exporting & Printing

Use the Export button to save the report as PDF or CSV. Select Print Preview to review the layout before sending to a printer.

Tips

• Run monthly to track trends
• Compare to budget expectations
• Use for quarterly tax estimates
• Include only business categories for accuracy

See also: Guide 18: Schedule C Report