About the Profit and Loss report

The Profit and Loss report shows your total income and expenditures for a specific period of time. It is also sometimes referred to as a "P&L Report," “Statement of Operations,” “Statement of Financial Results,” or “Income & Expense Statement.”

Important Note: The manufacture cost tallies in this report are estimates designed for high-level business decision-making and are not calculated for taxation purposes. Please use your Schedule C report for your official inventory and COGS valuations.

How to find this report:

Navigate to your Reports page.
Click the Profit and Loss report under the General heading.

To run this report:

Select the date range you wish to view from the Date Range boxes
Click the Run Report button.

Report breakdown:

Income	Income shows a category breakdown view of all orders generated within the period selected using the accrual method. It does not include canceled orders. However, it does include orders where full payment has not been received yet. All amounts are exclusive of tax, as they should not be considered part of your income for the purposes of this report. If you require your Tax amounts, these figures can be pulled from your Tax Summary / Tax Detail Reports.
Manufacture cost	This shows you the material cost attributed to your orders within the time period. Note: This should not be used for taxation reasons as it is an estimate only; for your final COGS and inventory tallies, please refer instead to your Schedule C Report.
Gross Profit	Gross Profit is your income - manufacture costs. This is what you have left after the cost of manufacturing your products.
Gross Profit Margin	Gross Profit Margin is shown directly under Gross Profit. This is an interesting metric as it measures as a percentage of how much you have left as a profit after direct costs of production have been paid for: the higher the number here, the better your business is performing.
Indirect Expenses	As material expenses are factored in only when used in the manufacture of your completed products, they are filtered out of this view. All non-material purchases will be shown here. The full cost of the expense is included, including shipping and tax. These are referred to as "overhead" purchases.
Total Expenses	Total Expenses shows the grand total for all non-material purchases within the time period.
Net Profit	Net Profit is your Gross Profit minus Indirect Expenses. This final figure shows you what is left after all expenses are taken into account.

This report can be downloaded as a print-friendly PDF or a CSV in a spreadsheet for further analysis.