The Profit & Loss report (P&L) summarises income and expenses to show whether the company made a net profit or net loss for the period.
Open Accounting → Reports → Profit & Loss.
Structure
- Income accounts (e.g. tour revenue) in a tree
- Expense accounts (e.g. supplier costs, operating expenses) in a tree
- Net profit or net loss at the bottom
When to use it
- Monthly management review
- Comparing revenue to supplier costs after a busy season
- Validating that submitted sales and purchase invoices flow through to the right accounts
How it relates to trips
Tour revenue typically flows from sales invoices (credit income accounts). Supplier costs flow from purchase invoices (debit expense accounts). Ensure invoices are submitted for them to appear here.
Date and currency
P&L is calculated for the current period as at today in base currency. For point-in-time position (not performance), use Balance Sheet.
Related
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