The P&L statement lays out income and expenses for every month in the financial year, drawn from the invoices, payments and costs already in your account. Change the date range and the figures redraw; download it when someone else needs a copy.
What is inside
The P&L reads across the financial year: income on one side, expenses on the other, and the difference between them for each month in the period you chose.
The year on one page
Income and expenses are set out month by month across the financial year, so a quiet March or an expensive September is obvious at a glance. You are looking at the shape of the year rather than one annual total that hides everything inside it.
There are no ratios you did not ask for and no schedules to page through before the number you wanted. Income, expenses and the difference is enough to know whether the last quarter paid for itself, and little enough that you will actually open it at month end.
Dates in, statement out
Move the dates and the statement redraws for that span: a single month, a quarter, the tax year, or the eighteen months a lender asked about. The figures are the ones in your account at the moment you look, not a copy that was made overnight.
A P&L is usually wanted by somebody else: an accountant at year end, a bank reading an application, a partner who wants the quarter. Take the statement down as it stands and send that, instead of rebuilding the same numbers in a spreadsheet the night before.
Also included
The P&L answers what a period earned. The rest of the accounting module answers what the business holds, what it owes and where the cash went.
Assets, liabilities and equity as they stand, sitting alongside the P&L in the accounting module.
Every account with its debit and credit balance, for the period you select.
What actually moved in and out of the business, which is not always the same as profit.
The line-by-line postings behind each figure, if you ever need to see them.
The chart ships with 165 accounts: 35 asset, 12 liability, 8 equity, 7 income, 103 expense.
Costs recorded in expense tracking show up on the expense side of the statement.
Invoices and the payments against them land on the income side without being retyped.
Post an accrual or a correction by hand when a period needs adjusting.
Set what you expected to earn and spend, then hold it against what happened.
Have a report emailed on a schedule instead of remembering to open the app.
Invoice in several currencies and still read one statement in the currency you report in.
The books run in a browser, so the statement is there wherever you happen to be working.
Questions
Adjust the dates on the statement itself and it refreshes for that period. There is no separate setup screen and no report to configure first, so looking at last quarter and then at the full year takes two changes of date.
Yes, in a click. Most people take a copy at the end of a quarter or a year to send to an accountant, attach to a loan application or keep for the record. The download reflects the period you had on screen.
Yes. It reads the most recent data in your Invoice Crowd account, so an invoice settled this morning and an expense entered an hour ago are both already in it. Nothing has to be closed, synced or rebuilt before the statement is accurate.
It stays at the level of monthly income and expense totals for the period you selected, which is what most owners need to see. If you want the individual postings behind a figure, the general ledger in the accounting module holds them.
From the records already in the account. Invoices and the payments made against them make up the income side, and what you record in expense tracking makes up the other, both posting through the chart of accounts.
The accounting module also carries a balance sheet, a trial balance, a cash flow statement and the general ledger, along with manual journals, opening balances, fixed assets, bank reconciliation and a budget versus actuals view.
Invoice and record costs in the same account, and the profit and loss statement is written as you go. Pick a period and read it.
