Profit and Loss Report

QuickBooks puts the profit and loss report XE "profit and loss report" XE "report:profit and loss" (now called “income statement”) at the head of the list, in apparent recognition of XE "income statement" the reason that most owners are in business. It is a statement of (hopefully) the net profits for a period of time. All of the income transactions are added up, and all of the expenses. The expenses are subtracted from the income, and the result is the net profit. Non-operating income and expense are separated as Other Income and Other Expense.

Displaying the report: Select Reports from the menu bar, then Profit and Loss. The “standard” format is a single column P&L report.