Profit & Loss Statement
The Profit & Loss (P&L) statement — also called an income statement — shows your business’s revenue, expenses, and net profit over a specific time period.
What it tells you
- Revenue — total money earned from sales, services, and other income
- Expenses — total money spent on operating costs, broken down by category
- Net Profit (or Loss) — revenue minus expenses. Positive = profit, negative = loss.
How to read your P&L
| Section | What it shows | Example |
|---|
| Revenue | All income sources | Service revenue: $25,000 |
| Cost of Goods Sold | Direct costs to deliver your services | Contractor payments: $8,000 |
| Gross Profit | Revenue - COGS | $17,000 |
| Operating Expenses | Rent, software, marketing, salaries, etc. | Total: $12,000 |
| Net Profit | Gross Profit - Operating Expenses | $5,000 |
Running the report
- Go to Reports → Profit & Loss
- Select your date range (e.g., “This Month” or “Q1 2025”)
- Click Generate
The report groups expenses by category, so accurate transaction categorization is essential for a meaningful P&L.
Exporting
Click Export to download as:
- PDF — formatted report, great for sharing with stakeholders
- CSV — raw data, useful for further analysis in spreadsheets
Uncategorized transactions won’t appear correctly in your P&L. Make sure all transactions are categorized before relying on this report for business decisions.
