https://help.tallysolutions.com/docs/te9rel64/Reports/intro_profit_loss_accounts.htm

Profit & Loss Account

The Profit & Loss A/c is a periodic statement, which shows the net result of business operations for a specified period. All the expenses incurred and incomes earned during the reporting period are recorded here.

The Profit and Loss Account in Tally.ERP 9 displays information based on the default primary groups. It is updated with every transaction/voucher that is entered and saved.

To know more, click the links below:

Display Profit & Loss Account

Configuring Profit & Loss Account

Display Income & Expense Statement Instead of Profit & Loss