HelpreportsProfit & Loss (P&L)
Profit & Loss (P&L)
The income statement: revenue minus expenses equals profit.
beginner· 4 views· Updated 7/18/2026
The Profit & Loss (P&L) statement provides a snapshot of your financial performance over a specific period.
Key sections include:
- Revenue: Total income from invoices, net of credits.
- Cost of Sales: Direct costs such as Cost of Goods Sold (COGS).
- Gross Profit: Revenue minus COGS.
- Operating Expenses: Includes salaries, rent, and utilities.
- Operating Profit: Gross profit minus operating expenses.
- Other Income/Expense: Items like interest and FX gains/losses.
- Net Profit: The remaining profit after all expenses.
You can click any figure to explore the underlying transactions.
Step-by-step
- 1Access Reports
Go to Reports in the sidebar to view the Profit & Loss statement.
- 2Select Date Range
Choose a date range using options like This Month, Last Month, or Custom Range.
Use 'Custom Range' for specific periods. - 3Review P&L Sections
Examine each section to understand your financial performance.
Click figures to see detailed transactions.
Was this article helpful?
Need more help?
Ask AkountFly: it can answer follow-ups AND read your live business data.