Run a Profit & Loss Report

Last updated: 2026-06-02 Summary:

• Generate a P&L for a period from the Report Hub.
• The P&L is derived from posted journal entries — drafts don’t appear.
• Tie the P&L and Balance Sheet back to the Trial Balance.

Steps

1. Go to Reports → Report Hub → Profit & Loss.
2. Choose the period (month, quarter, or custom range) and comparison basis.
3. Generate. Revenue, COGS, gross profit, operating expenses, and net income render from posted entries.
4. Export to PDF or Excel.

Reading the statement

• Revenue comes from posted AR invoices (income accounts).
• COGS appears only when inventory tracking posts cost for inventory-tracked products.
• Net income flows to retained earnings at period close.

Tie-out (recommended)

Periodically confirm your statements reconcile with each other:

• GL Trial Balance ties to the AR and AP subledgers.
• The Balance Sheet balances; the Cash Flow reconciles.
• The AP control account equals the AP Aging total to the centavo.

Everything renders from the same posted entries, so a mismatch means an unposted or mis-mapped entry worth finding — not a report quirk.

See also

• Accounting model
• Multi-currency

Related

• Read the Trial Balance
• Read your Balance Sheet & Cash Flow
• Create an invoice
• Reconcile a bank account