Menu Path: Accounting > Financial Statement > Profit and Loss Statement
Profit and Loss Statement provides the computation for Gross Profit and Net Profit based on the GL Codes. To obtain the correct amount of Net Profit, the Trial Balance need to be balanced and all the Journal transactions should be correctly recorded from the beginning.
- Select the company and click on the Submit button.
- Select the Group By and Date Range for the Profit and Loss Statement to be extracted.
- Tick on the Option checkbox whichever applicable.
- Click on the Generate Report Now button. Upon clicking on the Generate Report Now button, the Profit and Loss Statement will be displayed below as shown in the following image:
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