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 Reporting → 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/Excel or save as a custom report for reuse.

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

• Create an invoice
• Reconcile a bank account