Configuring Profit & Loss Account

You can configure the Profit & Loss account details to view it in the required format.

To configure Profit & Loss Account

1.    Press F12: Configure. Set the option Show Vertical Profit & Loss?  to Yes to display Profit & Loss Account in the vertical form, as shown below:

 

The vertical form shows the Trading Account and the Income Statements separately.

2.    Set the option Show Percentages? to Yes to express each line as a percentage of sales accounts, that is, if you consider sales accounts to be 100%, the rest of the lines would be a percentage of sales accounts.

3.    Set the option Show with Gross Profit? to Yes to split the Profit & Loss Statement to show trading profit, which considers only the Cost of Sales and Direct Expenses. Indirect Expenses are deducted from the Gross Profit to show the Nett Profit.

Note: This field is applicable only to horizontal form of Profit and Loss Account.

Columnar Profit & Loss Account: Some Examples

     Select a column to display the Profit & Loss Account in a different currency.

     Press New Column on the button bar or press Alt+C, to change only the currency, and give the Closing Exchange Rate.

The Profit & Loss Account figures are converted at this rate, and are displayed as shown below:

     Select a column to display the Profit & Loss Account with a different stock valuation method.

     Press New Column on the button bar or the keys ALT+C and change only the stock valuation method to LIFO Annual.

The Profit and Loss A/c screen is displayed as shown below:

Show Quarterly Profit & Loss Account

     Press Auto Column on the button bar or the keys Alt+N.

     Select Quarterly from the list of periods.

The Profit and Loss A/c screen is displayed as shown below: