The Profit and Loss statement is one of the most important financial statements. It lists a summary of your revenues, costs and expenses in a certain period of time, usually a year. The profit and loss statement is the base for many metrics calculation or business related decisions.
When talking about the Profit and Loss statement EBITDA is often mentioned, as well. If you want to learn more about EBITDA, check out our article about it.
Before Calqulate can create your profit and loss statement EBITDA you need to map your chart of accounts. This helps us to assign all your expenses to the right place in the Profit & Loss report which is needed to calculate your Gross Margin, EBITDA and Net Profit. If you have done this already, your accounts are all set up and you are ready to check out your profit and loss statement.
Go to your left-hand menu FINANCIAL REPORTING > Profit and Loss.
The profit and loss statement helps you to determine the Gross Profit of your organization. While it is essential to know the profit of the current period, also forecasting the profit and loss values is a handy tool. If you want to do so, check out this article. If you want to break down your profit and loss statement on only a certain department or location, use the tracking category feature.
Updated over 1 year ago