Profit & Loss report

The Profit & Loss shows income earned and expenses incurred over a period, ending in your net profit. It is built live from your ledger — reconcile up to date and the report is up to date, no refresh or rebuild step.

Reading it

• Income — everything earned in the period: approved invoices and income coded straight from the bank.

• Expenses — grouped by account, so you can see where the money actually goes.

• Net profit — the line that matters: what the business made after everything.

Getting more from it

• Change the period freely — a month, a quarter, a financial year, or any custom range.

• Add comparison columns to spot trends: this period vs last, this year vs last year.

• Click any line to see the exact transactions behind it — every number is traceable to source.

• Use Ask AI on the report to have the numbers explained in plain language, or to ask why a line moved.

Profit is not cash

A healthy P&L with an empty bank account usually means money is tied up in unpaid invoices, or cash left as drawings, loan repayments or asset purchases — none of which appear as expenses. The Balance Sheet tells that half of the story.