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The Profit and Loss report

Created on  | Last modified on 

Summary

How to generate income statements or profit & loss reports in Sage Accounting showing.

Description

Sage 50 offers both standard and comparative profit and loss statements that can be generated for the current or previous financial year.

Resolution

The Profit and Loss report details your business's performance over a specified period. It displays sales values, direct expenses (including cost of sales), and overheads during the given period. It also shows the resulting gross and net profit or loss. When you run the report, you can drill down on values to see included transactions.

To run the Standard report:

  1. Go to Reporting at the top and select More.
  2. Choose Profit and Loss - Standard.
  3. From the Period list, select the period you want to report on.

 TIP: To view how the values are calculated for a particular ledger account, click the relevant line. This takes you to the Nominal Activity Report, showing the transactions for this account in the specified period. To view details of a transaction, click the individual entry. To return to the Profit and Loss report, click back on your browser menu bar. 

To run the Comparative report:

  1. Go to Reporting and select Profit and Loss - Comparative.
  2. Choose either By Month or By Quarter. In the Value up to list, select the relevant month or quarter you want to report on.

 TIP: Click the relevant line to view how the values are calculated for a particular ledger account. This takes you to the Nominal Activity Report, showing the transactions for this account in the specified period. To view transaction details, click the individual entry. To return to the Profit and Loss Report, click back on your browser menu bar.