Read the profit and loss
A period's revenue, cost of sales, expenses and profit, compared with another period and traceable to the journal.
Before you start
- Report access.
- The period's transactions are posted.
- Accounts in the Chart of Accounts have a Category Number, so each one lands in the right group.
Steps
Step 1: Open Profit & Loss
In the report hub, open Profit & Loss. The filters are in Filters and report options. On a phone screen, tap to open them.
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The Profit & Loss report with the Filters and report options panel.
Step 2: Choose the period
In Period, choose This month, Last month, This quarter, Last quarter, This financial year, Last financial year or Custom. For Custom, open Advanced date fields and fill in the dates.
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The profit and loss period options with the advanced date fields.
Step 3: Choose a comparison
In Comparison, choose for example Previous period or Same period last year. If needed, pick a Branch, Division or Project, and tick Show variance amount. Click Apply filters.
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The comparison options, branch, division and project filters, and the Apply filters button.
Step 4: Read the result
Check the Revenue base, Gross margin, Operating spend and Net margin cards, then the Revenue, Cost of Sales and Operating Expense sections down to Profit or Loss.
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The profit and loss summary cards and the sections down to Profit or Loss.
Step 5: Drill down to the journal
Click an account's amount. The Ledger drilldown opens with the Opening balance, the journal lines and the Closing balance. Click a journal number to open that journal.
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The Ledger drilldown panel with opening balance, journal lines and closing balance.
Step 6: Export the report
Click Export and choose CSV, Excel or PDF. The file holds the report with the filters currently shown.
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The profit and loss Export menu with CSV, Excel and PDF.
When you are done
- The report can be exported to CSV, Excel or PDF with the filters shown.
- With the Projected COGS basis, a provisional COGS is added as an estimate. No journal is created.
Common problems
A Classification review needed warning appears
Some accounts have no Category Number. Complete the mapping in the Chart of Accounts.
A message says the custom start date must be on or before the end date
With a Custom period, the start date can't be after the end date. Fix the dates and apply the filters again.
The figures don't change after changing a filter
Filter changes only apply once you click Apply filters.
Something still unclear?
Ask us on WhatsApp. The Finday team replies during office hours and can walk you through it in your own account.