How to create a Profit and Loss statement

frontAccountingOccasionally you'll need to create a profit and loss statement, particularly when reporting profits to the Inland Revenue. This article describes the process.


Backup

This is probably a good time to backup FrontAccounting.

General Ledger Reports

Start by logging on to your system. It's likely that you will want the Fiscal year to be the same as the period reporting on your Profit and Loss statement.

  1. Select the Setup tab.
    1. Click the Company Setup link.
    2. Change the Fiscal Year to match the Profit and Loss year that you are reporting on.
  2. Select the Banking and General Ledger tab.
  3. Select Profit and Loss Statement to reveal the options pane.
    1. Enter a Start date and End date (typically your tax year).
    2. Choose Compare to: Accumulated
    3. Choose Graphics: Pie.
  4. Click the Display Profit and Loss Statement button.a

You will now have a .pdf file that you can download and store for your records.

 

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