The profit and loss (P&L) statement is a summary of the revenues, expenses, and costs incurred by a business during a specific amount of time—typically a fiscal year or quarter. This statement is also commonly known as the income statement and is accessed through the expanded Analytics tab.
The profit and loss statement details the amounts spent and received, classified into various categories. You can further refine what data is presented in your P&L by using our Dimensions feature. Simply click on the Dimensions dropdown and choose the parameters.
With this statement, business owners can easily identify their sources of income and spend. For example, if you’re concerned that your business spends too much on travel, you’d use the profit and loss statement to prove it.
In this example P&L statement, the total net profit number is green, meaning that the example company is earning money. The net profit (the difference between revenue and spending) is always found on the bottom line of the P&L statement and is a simple analysis of a company’s profitability.