Profit & Loss Report will give you a clear understanding of the financial performance of your business. "Is this business trading at a profit or a loss?"
The report also answers the question "What cash surplus does your business have after other income and expenditure?"
In order to create the Profit & Loss Report, you will need to setup all your Codes with an appropriate code type.
To Create Profit & Loss Report
- Click on Cashbook.
- Click on Reports.
- Click on Accounting Reports.
- Click on Profit Loss.
- The Profit/Loss Report Options screen will be displayed & setup as needed.
- Your report will be displayed based on the settings you have requested.
If you would like to report an Enterprise's contribution to gross profit all sales and costs of sales must be allocated to the correct Enterprise when coding them in the transactions, invoices etc.
If you would like to create individual Profit & Loss Reports for each Enterprise you must code all transactions, invoices, EFT etc (both income & expenses) to an Enterprise including attributable overheads (e.g. phones based on the number of people in each Enterprise).