Help › Bookkeeping
Read your Profit and Loss
Your Profit and Loss is the first thing under Reports:
- Go to Ledger › Reports: the page opens on the P&L tab (titled Profit & Loss).
- Set the date range with the period picker at the top.
- Switch between Accrual and Cash with the toggle beside it: accrual counts income and expenses when invoiced or billed, cash counts them when money actually moves.
The report is built straight from your general ledger, so it always ties to the Balance Sheet's net income. Use CSV or PDF to download it, or Year-End Pack to jump to the accountant handover.
Because it reads the posted ledger, the P&L includes everything the books hold: ecommerce payouts, payroll, labour, FX gain or loss, and any manual or year-end adjustments, and non-recoverable tax (PST, duty, freight) lands in the expense figure. It's a simplified income statement for your own use; your accountant still prepares the statements you file.
Good to know: The P&L is built from your posted journal entries, so a document that never
posted one (for example a bill you marked as paid personally and left
unposted) won't appear on it. The Cash / Accrual toggle only changes how the
figures are presented (your books stay accrual underneath), and a cash-basis
figure is exact only for the part you've reconciled to the bank.