A Profit and Loss Statement may also be referred to as your P&L. The Profit and Loss Statement shows how well your company buys and sells things to make a profit.
Just as the Balance Sheet (see Balance Sheet in previous section) is a snapshot of the financial standing of a company at a certain point in time, the Profit and Loss statement shows the results of financial trading over a period of time.
Dealerlogic enables you to view your Profit and Loss as at the current date and time or for a range of months. The month range enables you to view your Profit and Loss for a month, a quarter or a year, etc, although a Profit and Loss may not span multiple financial year periods. Additionally, the Profit and Loss may not be run for any period until a valid opening date is entered. To enter this date select Setup from the Accounting drop menu, and then select Preferences. Go to the Opening Account Balances tab and enter the date at which your conversion to Dealerlogic Accounting was effective.
The Profit and Loss Statement may also be run showing comparisons with either preset Budget figures, or P&L figures for the same period “Last Year”.
Exporting a Profit and Loss Report
The Profit and Loss Report can be exported directly to a file format called “.csv” which is a type of text file commonly used for spreadsheet files. The resulting .csv file when opened in Excel is correctly formatted, with headers & footers etc removed. Select the required point in time for your Profit and Loss Report using the procedure described above. When emailing the Profit & Loss Report, it will be converted to a pdf format. •To export to excel, select the ‘combo arrow’ located next to the Print button as illustrated and select the File (CSV) option. •Name the resulting file appropriately and save the file in your desired location. •The file can be run directly once located in Windows Explorer – it will open Excel for you – or open Excel first then use the Open button to locate and open the required file. Note that the File Open window in Excel will by default look for files with an “.xls” extension. To locate this file, change the Files of Type selection to read All Files, or Text Files. •To email the Profit & Loss report, select the 'combo arrow' located next to the Print button as illustrated and select the Email option. •A new email message will be opened in your default mail program for you to compose with the Profit & Loss report attached as a pdf. Note that you can email your Profit & Loss report in .csv format so that the recipient can view in Excel. Simply attach the .csv file to an email message. |
Viewing current period vs Year To Date
This view will display the selected date range alongside the data for the current Financial Year to Date. |
Change the Selection combo from "This Year Only" to "Last Year" You will see the report displayed showing the current year compared to the same date range selection and the same date range you have selected |
Drill down to the Account Inquiry and see the underlying transactions
Right-click on any "detail" account to open the Account Inquiry window, displaying all transactions recorded for that account for the specified date range. |
Viewing Actual vs Budget figures
Selecting "Budget" view will display Actual data for the selected date range vs Budged amounts for the same date range. Note than whilst in "Budget" view, Budget figures can be entered by using the right-click, and selecting Budget. |