How to read a profit & loss statement

SystemSystem Posts: 412 admin

imageHow to read a profit & loss statement

The Profit & Loss is the most critical of the three core financial statements for a business. It shows how much money the business earned, and how much money the business spent to earn it.
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edited May 23, 2020 in Help Center Discussion

Comments

  • TalimTalim Member Posts: 1

    Is there any way to include a separate category or have accounts for Gains/Loss from selling of assets or from other investment income, for example, below Operating Expenses?

  • ConnorMConnorM Member Posts: 1,229 ✭✭✭

    Hey @Talim! Great question. If you'd like that account/category to exist, you could create it in that Operating Expenses category manually!

  • NHawkNHawk Member Posts: 2

    The Profit and Loss Report is omitting one of my products for sales, causing the report to be way way off.

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @NHawk , can you give us an example of the situation, maybe add a few screenshots of what you're seeing? If you can provide an explanation of the product as well as how you're expecting to see it show up, we can help advise on the situation.

  • Carol_123Carol_123 Member Posts: 2

    Can you print a profit and loss with current month in one column and year to date in another column?

  • MelissaKeyserMelissaKeyser Member Posts: 2

    I send invoices from Wave but those payments don't show up as profit in this report. Only checks deposited or services paid through Square show up on the profit report. This report is useless if I have to manually go add up all my profits from each month of transactions. And because it's a line item created by Wave, I can't add it as income. This is a serious flaw. How do I get ALL of my profit to show on the report?

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