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Profit and Loss

The Profit and Loss report type is a financial statement that shows a company's revenues, expenses, and net profit or loss over a specific period of time. It is also known as an Income Statement.

Benefits:

  • Financial Performance: Assesses the company's profitability and overall financial health.
  • Trend Analysis: Identifies trends in revenue, expenses, and profitability over time.
  • Decision Making: Provides insights for making informed decisions about pricing, cost management, and business operations.
  • Investor Relations: Helps communicate financial performance to investors and stakeholders.
  • Tax Planning: Assists in tax planning and compliance.