The reason of every business organisation is to make a profit. Keeping an eye on how the business is fairing is a fundamental action that helps the business move on. The Profit & Loss report is designed to give a clear indication on the profit or the loss the business has endured.
Similar to the Balance Sheet reports the Profit & Loss reports are presented in two ways, one on screen, described as the Profit and Loss Drilldown and the other in printed format. This session will deal with the screen view of the report.
Log in to Clever Accounting and select the Banking and General Ledger tab, then click on Profit and Loss Drilldown link.
The dates at the top of this screen default to the current month. For different periods select different dates. One can also choose the Compare to which defaults to Accumulated. There is also the possibility to choose a Dimension for this report.
The first screen that is obtained shows the totals of the relevant sections such as the totals of Sales Revenue. By clicking on these headings, one can drill down to more information on how that total was obtained.
The bottom line shows the Calculated Return. May you always have a positive in this line.
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