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How to create the Profit and Loss report

Created on  | Last modified on 

Summary

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

Description

Sage Accounting makes standard and comparative profit and loss statements for the current or past financial year. You'll see sales, direct expenses, overheads, and the resulting gross and net profit or loss.

Resolution

Standard report

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

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 see how the system calculates the values for a particular ledger account. This action opens the Nominal Activity Report, showing the transactions for this account in the specified period. Click the individual entry to view transaction details. Use your browser's back button to return to the Profit and Loss report.