Profit & Loss

The Profit and Loss report will display the account totals to calculate net profit. The P&L will need to be run based on the inventory periods to generate the net profit.

Header	Detail
Income	Income is on the sales that have been entered.
Cost of Sales	This will display the account purchases that are applied to the account type "Cost of Sales".
Expense	This will display the account purchases that are applied account type "Expenses".
Net Income	Profit generated in the reporting range. Net Income = Total Income - (Total Cost of Sales + Total Expense)

*Note: If an account shows up in the wrong section (Expense vs. Cost of Sales), you will need to go into Setting -> Setup -> Account and update the account type.\