Chapter 409 Profit and Loss
Profit and Loss shows you income and expense as one comprehensive financial report. Look in Reports, Accounting, and you will find a dozen like, Profit & Loss Statement.
BigBusiness provides several variations to compare and analyze, by printing or export.
Many are custom, sort by Department, or Month, add Groups, and calculate in depth.
This chapter aims to help you review and choose the report that fits your many facets. Start simple and defer Departments or Groups or export to Excel until you really need.
Profit and Loss Percent of Sales
Profit and Loss shows you income and expense as one comprehensive financial report. Percent of Sales shows each row with a percentage of Total Income for five years time.
Profit and Loss By Month
Profit and Loss by Month exports Profit and Loss results for Months and Year-to-Date.
Profit and Loss by Month exports Profit and Loss results for Months and Year-to-Date.
A Date dialog asks for the Month and Year to run through. For example, picking March when you are calendar-fiscal will include results for Jan, Feb, Mar, and YTD for the year entered.
The report includes columns for Account Group, Account Code, Account Name, and the Months and YTD results.
The report includes all Profit and Loss Accounts when running, and skips any that have no Postings.
Profit and Loss by Month with Budget
Profit and Loss by Month with Budget exports Profit and Loss results for Months and Year-to-Date along with Monthly Budget, YTD Budget, and Actual to Budget.
Profit and Loss by Month with Budget exports Profit and Loss results for Months and Year-to-Date along with Monthly Budget, YTD Budget, and Actual to Budget.
A Date dialog asks for the Month and Year to run through. For example, picking March when you are calendar-fiscal will include results for Jan, Feb, Mar, and YTD for the year entered.
The report includes columns for Account Group, Account Code, Account Name, Monthly Budget, Months and YTD Actuals, YTD Budget, and Actual to Budget.
The report includes all Profit and Loss Accounts when running, and skips any that have no Postings.
Profit and Loss Reports
Profit and Loss Reports include a varied selection depending on size of your company.
Profit and Loss Statement is an original printable financial report you run for one year. You choose the Date Range, but submit only one year, and whether to Print or Export.
OTOH, Profit and Loss by Month with Budget will only Export to open in Excel, etc.. And with Budget, by Department, and so on, need you to have Budgets, Departments.
Profit and Loss Omit Zeroes
Omit Zeroes has been the subject of much debate. Sykes decreed all accounts, always! Omit Zeroes reports are handy though, only showing Accounts with non-zero results.
Profit and Loss should match your Balance Sheet, which shows Current Year Earnings. But it is also handy to run for any Date Range and have it Omit Zeroes to keep it brief.
In choosing, keep in mind that Omit Zeroes may raise eyebrows or cause consternation if filtered results do not align to full year, past year, or other Profit and Loss reporting.
Profit and Loss Exports
Profit and Loss exports are P&L's you save as files you can open in Excel or Numbers.