The profit and loss report is a financial statement that summarizes the total income, total expenses, and revenue of a business in a specific period. Profit is the money gained or earned after a company has accounted for all expenses. While loss is the money lost without being beneficial in return.
To navigate to the profit and loss page, follow this step:
- On the dashboard, click on “Accounting”.
- From the drop-down, click on “Profit and Loss”.
- You will be redirected to the profit and loss page.
NOTE:
- You can also search, filter, and sort for profit and loss details.
- You can view the details of each account by clicking on the “Arrow” icon under Action.