How to run a profit and loss report

A profit and loss report shows your income, your costs and what is left over as profit for a chosen period. It is one of the quickest ways to check the health of your business. Here is how to run one in CRMit.

1. Open Profit and Loss

   From the CRMit menu on the left, select Profit & Loss. The statement opens showing income, cost of goods, expenses and net profit for the current period.

2. Choose the period

   Use the date range at the top of the page to set the period you want, such as this month, a quarter or a full year. The statement refreshes to cover the dates you pick.

3. Review income and expenses

   Read down the statement to see how the numbers stack up:

   • Income shows what you have earned from sales in the period.
   • Cost of goods and expenses show what it cost you to earn it.
   • Gross profit and net profit show what is left at each stage.

4. Drill into the lines

   Expand a section to see the individual items behind a total. This lets you check exactly which sales or purchases are driving a figure, so nothing is a surprise.

5. Export the report

   When you are happy with the figures, save or export a copy of the statement to keep for your records or to share with your accountant.

What's next

With your profit and loss in hand, pull together the other figures you need to stay on top of the numbers.