Your Profit and Loss update is a summary of key balances taken from your Profit and Loss report, including commentary where appropriate. It can be run for different periods with, or without, comparative balances.
What key balances are included?
The key balances included are:
- Total income
- Total cost of sales
- Gross profit
- Total operating expenses
- Total other income and/or expenses
- Net profit
Also included are 2 profitability measures, they are:
- Gross profit margin
- Net profit margin
What periods are available to listen to?
You can choose to listen to any of the following periods:
- Current month (month to date values as at today)
- Last month (full month values)
- Year to date - as at today
- Year to date - as at the end of last month
Depending on the period you select, you can choose to compare those balances against these comparative periods:
- Last month / prior month
- Last year
You can also choose no comparative, if you would prefer not to compare your balances against a different period.
How are the Profit and Loss update comparative periods defined?
All comparatives are based on the same period as the actual period selected, for example, if you choose current month against last month, and today is the 10th of the month, you will get results for current month as at the 10th, against last month as at the 10th. However, if you choose last month against last year, then you will get results for the full month for both periods selected.
The only exception to this, is when budget is chosen as the comparative. The budget will always be for a full period.