Income Statement (P&L) - Basic Search
This is the basic search form for generating an income statement or profit and loss statement (P&L). The actual report (results) will show up on a different printer friendly page. Use your back button to go back and forth between search criteria and results to get the amount of detail you need. You will need to re-submit the search form or refresh the results to get the actual values.

The only required fields are the to and from date range. The rest of the fields are optional or set to a system default. If you need more control over your reports, use the advanced link at the top of the page.

One of the most important search form values is the "Report Type" field (bottom most field). This is where you tell the results page how much detail to return. There are four different levels of detail the results page can display. Each one is progressively more expanded and categorized.

Below is a basic overview of the break-down of possible sections on the income statement (P&L) and how things are grouped. Each corporation and location are different. This is a general overview and may or may not reflect what you see on your income statement. Please understand that the income statement is a very dynamic report and is setup to only show sections that fit your search criteria.

The P&L is broken up into 5 main parts. They are:

Revenue (income or sales)
COGS (cost of goods sold)
Gross Profit (revenue minus cogs)
Expenses (money spent to do business)
Net Profit (gross profit minus expenses)

Here is a more detailed break-down of what each section contains.


Invoice Sales - This is a sub section of revenue and is taken from invoices entered into the system. This section has a number of sub elements, taken from the invoice line items, that help provide a picture of what was invoiced or sold. All sub elements are grouped according to what we call inventory types. It starts with invoice sales that include specific units (stock numbers), then invoices with general inventory (parts), then invoices with system parts or special line items (labor, supplies, etc.). It is possible for a single invoice to show up (just the individual line items) in each section without creating a double booking. Basically, it is grouped invoice line items that show up for roll call.

Normal Deposit - This is a sub section of revenue and will show all deposit line items that have the deposit type of normal deposit and don't have an invoice number tied to it. Invoices carry more information than deposits and are encouraged (see above). Most of this information, if applicable, will be shown in the invoice sales section above. This section, if present, is a deposit catch-all and will show only items that are deposited but not tied to a specific invoice. This section should only be used for deposit line items that have somehow fallen through the cracks and are not shown above in the invoice section.

Other Revenue - This is a sub section of revenue and will only include special deposit line items that are assigned to a deposit type of other revenue (not from sales). This is the correct way to show revenue that is not tied to an invoice. Warning: It is possible that this deposit type may be double booked. The way to check, if present, is to drill-down and look for items that have an active invoice number tie-in. If yes, it is possible that the item is double booked (shown in the invoice section and in the other revenue section). If the line items do not have an invoice tie-in, you should be ok. Once again, this is the correct place to show other revenue that got deposited but is not on an invoice.

Revenue Adjustment - This is a sub section of revenue and deals with adjustments to invoice sales, bad debt, and certain deposit line items. If you do trade-ins, they will show up here as adjustments (ACV - allowance). ACV stands for actual cash value. If you want to write off "bad debt", all you need to do is satisfy the correct invoice with a payment and assign it to a money type of "bad debt". Once that is done, the invoice will be removed from the accounts receivable section (A/R's) and it will show up here in the revenue adjustments (just the bad debt portion). There is also a possible section that deals with special deposit line items that are assigned to the deposit type of revenue adjustments. These are things like credit card fees, etc.


COGS (Cost Of Goods Sold taken from invoice line items) - This section will follow a similar format to the invoice sales section described above. The top part, if present, will show the costs of the invoice line items from specific units (stock numbers), general inventory (parts), and system parts or special line items (labor, supplies, etc.).

Depending on corp-wide settings, it is possible to have certain special line items (system parts or hardcoded values) show up as a negative cost of good sold. This is somewhat rare, but an option from the corp-wide settings page. This might be things like freight or shipping charges.

COGS (special expense type category) - There is also a sub section for special expense types that are pointed to the COGS section. Most normal expense types (expense/receipt line items) show up under the main expense section (below gross profit). However, the system allows for expense types to be pointed up here in the COGS section if needed. Basically, this is a way to increase the COGS before gross profit is calculated. Somewhat of an advanced option.

Gross Profit

Gross Profit - Revenue (plus or minus any adjustments) minus COGS. This is calculated for you.


Expenses - These are normal expenses that are taken out after gross profit is figured. Almost all expenses, values, and categories come from expense/receipt line items and the associated expense types that are assigned. The one exception to that rule is if your corporation sets up special roll call/handling for special line items (done through corp-wide settings). These are hardcoded parts and by default are assigned to the revenue portion of the P&L. Without making a big deal about it, these are invoice line items that get special treatment and have been told to show up under expenses as a negative expense (somewhat of an advanced setting). Most corporations will get their expenses directly from the expense/receipt line items.

Net Profit

Net Profit - Gross Profit minus Expenses. This value is calculated for you. This value is also passed on to the balance sheet as part of the equity account. This is how the income statement or P&L play into the actual balance sheet.

Estimated Taxes & Depreciation - Optional line item that shows taxes and depreciation. Set at 45% of net. Once this is taken out, a new adjusted net will be shown.