Profit & loss
Income against expense for a range inside one fiscal year, with gross profit, net profit or loss, and CSV export.
Profit & loss
Income against expense for a date range inside one fiscal year: what the promoter company earned, what it spent, its gross profit and its net profit or loss. Use it for monthly management figures and at year end.
Where to find it
Open Accounting > Reports in the sidebar and choose the Profit & loss tab. You need the View permission on Reports and on Books, as described on the Ledger report. The Books switcher at the top right chooses the books.
Before you start
Gross profit depends on which account groups are marked Direct (affects gross profit) on the chart of accounts' Groups tab ("Revenue and cost of construction; the rest is indirect.").
What you see
Filters across the top:
- Fiscal year: starts on the year that holds today.
- From and To: must lie inside the chosen year. They start from the first day of the year to today; picking another year sets the whole year (or up to today for the current year).
- Include zero rows: also list groups and ledgers with nothing in the range.
A summary line reads "FY <name> · <from> to <to>", with " · closed year (closing journal excluded)" for a closed year, and a badge "Net profit <amount>" (green) or "Net loss <amount>" (red).
Four tiles: Direct income, Direct expense, Gross profit and Net profit (or Net loss).
Two tables, Income and Expense, list the groups with their ledgers indented underneath, each with its code and Amount. Groups that count towards gross profit carry a Direct badge. Ledger names link to the Ledger report for the same range. Each table ends with Total income or Total expense. A side with nothing in the range reads "Nothing in this range."
What you can do
Export CSV
Downloads both sides with the columns Side, Kind, Code, Name and Amount, followed by a Gross profit row and a Net profit (or Net loss) row.
- When it's greyed out: until the report has loaded.
Things to know
- How the figures are worked out. Only the movement in the chosen range counts. Income is shown
as a positive figure when it is a credit, expense when it is a debit.
- Direct income and direct expense are the ledgers under groups marked Direct (affects gross profit).
- Gross profit = direct income − direct expense.
- Net profit = total income − total expense. The result reads "profit" when it is zero or more, "loss" when it is below zero.
- The same before and after a year close. The closing journal that moves the year's income and expense to the profit and loss account is left out, so closing a year doesn't wipe this report.
- One fiscal year at a time. A range that runs outside the chosen year is refused with "The range must lie inside fiscal year <name>".
- Only posted vouchers count, including reversed ones and their reversals, which cancel out.
Related
Related
- Balance sheetScreen
Assets against liabilities and equity as of a date, with the year's profit to date carried into equity and a check that the two sides agree.
- Trial balanceScreen
Opening, period debit and credit and closing per ledger or per group for a fiscal-year range, on a grid you can sort, resize and filter by column, with the report's totals in the footer and CSV export.
- Ledger reportScreen
The ledger of one account between two dates: opening balance, every posting with a running balance, and closing balance, with CSV export.
- Chart of accounts: GroupsScreen
The reporting groups of the chosen set of books as a tree under the five classes (asset, liability, equity, income, expense); add your own groups and delete empty ones.
- Fiscal yearsScreen
The fiscal years of a set of books with their 12 monthly periods: lock or unlock a month, open the next year, and close or reopen a year at year end.
- The chart of accounts: templates, books copies, nature and system rowsConcept
The organization keeps one master chart (group templates, ledger templates and default mappings) and every set of books holds its own copy of it; each group carries a nature (asset, liability, equity, income, expense) and a Direct flag that feeds gross profit, a few system rows are locked, codes are never reused, and the Consolidated report adds the books up by the template each ledger came from.
- Fiscal years, periods, locks, opening balances and the year-end closeConcept
Each set of books runs in fiscal years of twelve monthly periods; a voucher can post only into an open year and an unlocked period, opening balances carry each ledger's balance into a year, the year-end close moves income and expense into Profit & Loss Account by a closing journal and writes the next year's openings, and a monthly balance cache is kept as a cross-check.
- Close a fiscal yearHow-to
Review the year's profit and loss and balance sheet, open the next year, clear the draft vouchers, then close the year so income and expenses move into Profit & Loss Account and the closing balances become the next year's opening balances.