Overview of Profit & Loss Account Report in MargBooks

Process to View Profit & Loss Report in MargBooks

Overview of Profit & Loss Account Report in MargBooks

• In MargBooks Profit & Loss Account (Income Statement/Revenue Statement) is one of the Financial Statements of the company that displays the expenses incurred and incomes earned during a particular period.

• In other words, it displays the revenues recognized for a specific period and the cost and expenses charged against these revenues including write-offs (e.g., depreciation and reduction of the value (amortization) of various assets) and taxes.

The purpose of Profit & Loss Account is to measure that whether the company had earned profits or incurred losses during the specific period of time.

Process to View Profit & Loss Report in MargBooks

• Go to 'Reports'.

• A 'Combined Report' window will appear.

• Select ‘Profit & Loss' option under ‘Accounts Rrport > Final Account’ tab.

• User will view 'Stock Valuation pop-up.
• In the Stock Valuation pop-up, the user can select the Current Date option to view the stock valuation updated as of the current date in the Balance Sheet.
• The user can select the All Days option to view the stock valuation from the beginning of the financial year up to the current date.

• The user can view that the Profit & Loss statement has been displayed.

• The user can click the required component or press the 'Enter' key to view its detailed transaction information.

• User can view the detailed form of that particular component.

• User will click on ‘Expand All’ button to view report in detail.

• The user can view the Profit & Loss report in detail.

• The user can apply date wise filter to view the Profit & Loss report as per the requirement.

• A Date Filter window will appear, where the user can enter the required date range in the From and To fields.
• The user can click the 'OK' button to view the Profit & Loss for the selected date range.

• Click on 'Configuration' Button.
• The user can enable or disable the Opening Balance option as required to customize the Profit & Loss report.

• A 'Profit & Loss Configuration' window will appear in which the user can select the whether the Balance Sheet report must viewed with the Opening Balance or not.