Statement of Profit or Loss Tutorial

How to Display the Statement of Profit or Loss

1. Navigate to the Financial Statements.

2. Click Menu (button) > Statement of Profit or Loss.

3. Select a date.

4. Click View (button).

5. Click Menu (button) > Column Auto Width (it should be checked).

How to Change the Dates for the Statement of Profit or Loss

ℹ️ Choose the financial year (Fin Year) to show the profit or loss for tax and audit purposes.

ℹ️ Choose the financial year by month (Fin Year (Months)) to check for missing information as each month should follow the same pattern.

ℹ️ Choose the financial year by month (Fin Year (Months)) to compare your actual expenses to your budgeted expenses.

ℹ️ Choose the calendar year (Year) to check for seasonal fluctuations.

1. Navigate to the Financial Statements.

2. Click Menu (button) > Statement of Profit or Loss.

3. Use the dropdown list next to Set to select a date option:

   • User Date: Allows a specific date selection for custom periods.

   • Month: Displays the current month.

   • Year: Shows the calendar year to date (January–December).

   • Fin Year: Shows profit or loss for the current financial year.

   • Fin Year (Months): Displays a monthly breakdown for the current financial year.

4. Click View (button).

How to Display Percentage Changes

1. Navigate to the Financial Statements.

2. Click Menu (button) > Statement of Profit or Loss.

3. Click the % dropdown to select a percentage view:

   • None: Hides the percentage column.

   • Change: Shows the percentage change from one period to the next, with positive changes in green and negative changes in red.

   • Revenue: Displays each line item as a percentage of total Revenue.

   • Budget: Compares actual amounts to budgeted amounts (a budget must also be selected).

4. Click View (button).

How to Display a Budget Comparison

1. Navigate to the Financial Statements.

2. Click Menu (button) > Statement of Profit or Loss.

3. Select the following filters:

   • Set = Fin Year (Months).

   • % = Budget.

   • Budget = Select a budget from the dropdown list.

4. Click View (button).

How to Show or Hide Decimal Values

1. Display a Statement of Profit or Loss.

2. Click Menu (button) > Hide Decimal Values.

   • Checked: Decimal values are hidden.

   • Unchecked: Decimal values are displayed. 

How to Display Detailed Transactions from the Profit or Loss

1. Display a Statement of Profit or Loss.

2. Double-click any Account to open it in the ledger.

   • Note:  This feature only works with accounts that are displayed in normal font.  If you click totals or subtotals it collapses or expands the view.

How to Display All the Accounts on the Statement of Profit or Loss

1. Display a Statement of Profit or Loss.

2. Check the checkbox next to Show All Accounts to include all the accounts even those with zero balances.

3. Click View (button).

How to Add Notes

ℹ️ Notes can only be viewed on the Dashboard. 

1. Display a Statement of Profit or Loss. 

2. Right-click an entry and select Add Financial Statement Notes from the context menu.

3. Edit the Account or Period if necessary (the fields default to the period selected, and account clicked).

4. Type a note in the block provided.

5. Click Close (button).

How to Output the Statement of Profit or Loss

1. Display a Statement of Profit or Loss.

2. Click Output (button) and hover over the output option from Preview, Print, or Email, then click the applicable Output Template (e.g. Statement of Profit or Loss - Fin Year or Financial Statements).

Related Topics

• Reference: Statement of Profit or Loss