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Run the Profit and Loss

Created on  | Last modified on 

Summary

How to create a profit and loss report and what it tells you about your business in Sage Accounting.

Resolution

If you’re not sure what the profit and loss report is for, see About the Profit and Loss.

Create the standard report

  1. Go to Reporting, then click Profit and Loss - Standard.

  2. On the Period list, click the period you want to report on.

    If you choose This year or Last year, the values that appear are for the calendar year. If you’ve entered your financial year end date in Accounting Dates & VAT, you can also produce the report for the current or previous financial year.

  3. If you use analysis types, for example departments, click More then click the required criteria.

  4. Click Calculate to generate the report.

     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 and shows the transactions for this account in the specified period. If you want 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. 

  5. To save or print the report, on the Export menu, click one of the following options:
    • CSV – Depending on your Internet browser, the file automatically downloads to your Downloads folder or you’re prompted to save the file. If prompted to save the file, browse to where you want to save it, then click Save
    • PDF – The PDF opens in a new window or tab and you can then print or save it from your browser menu

Create a comparative report

Comparing with previous years can help you gauge the progress of the business over time. You can also project future cash flows based on previous year comparisons.

  1. Go to Reporting then click Profit and Loss - Comparative.

     TIP: If you’ve entered your financial year end date in Accounting Dates & VAT, you can produce the report for the current or previous financial year. 

  2. Select either By Month or By Quarter. Then in the Value up to list, click the relevant month or quarter you want to report on.

  3. If you use analysis types, for example departments, click More then click the required criteria.

     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 and shows the transactions for this account in the specified period. If you want 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. 

  4. To save or print the report, on the Export menu, click one of the following options:

    • CSV – Depending on your Internet browser, the file automatically downloads to your Downloads folder or you’re prompted to save the file. If prompted to save the file, browse to where you want to save it, then click Save
    • PDF – The PDF opens in a new window or tab and you can then print or save it from your browser menu