Income statement

Revenue, costs, expenses and net profit for the period, with an optional comparison and export to PDF or CSV.

The Income Statement (P&L) sums all Revenue and Expense accounts over a date range, calculates the net profit and lets you compare it against the previous period or year. It is the key report for understanding whether the business was profitable during the month, the quarter or the year.

Reading time: ~4 min

When to use this

You need to know whether the business made a profit or a loss in a period.
You are going to present monthly or quarterly results to management.
You want to compare performance against the previous month or against the same month of the previous year.
You are going to hand the accountant a signable PDF or a CSV for analysis.

Before you start

The Accounting module is active and your role includes reports:read. To export PDF or CSV you need reports:export.
There are Posted (POSTED) journal entries in the range - only posted entries are summed, drafts are excluded.
The chart accounts have the correct type assigned (REVENUE or EXPENSE). A misclassified account distorts the result.
If you are going to compare, there is enough data in the prior period (same range before or same range of the previous year).

Step by step

Open Accounting reports → Income Statement from the side menu.
Set the range with the From and To fields. By default it loads the first day of the current month and today's date.
(Optional) Open Comparison and choose:
- Previous period - the same range immediately before.
- Previous year - the same range of the previous year.
The table shows two sections: REVENUE and EXPENSES. Each line is a chart account grouped hierarchically, with totals by section.
At the bottom appears Net Profit = Total Revenue − Total Expenses. A negative value indicates a loss.
If you enabled comparison, you will see an additional column with the balances of the compared period.
To download, choose Format (PDF or CSV) and press Download. The file is named with the range (e.g. income-statement-2026-04-01-2026-04-30.pdf).

How the calculation is built

Only lines from journal entries in POSTED status within the From - To range are included.
Revenue sums the net credits (credits − debits) of the REVENUE type accounts.
Expenses sum the net debits (debits − credits) of the EXPENSE type accounts.
Inactive accounts and subaccounts with no movement are not printed, to keep the report readable.

Expected result

List of Revenue and Expense accounts with their subtotals by group.
A highlighted Net Profit line at the end.
A side-by-side comparison when selected, with the difference visible in pesos.
PDF or CSV file with the range and the tenant name.

Common errors

Error	Cause	Solution
Inflated or very low profit	The period's entries are still in Draft	Record the pending entries from Journal entries
A cost account appears in Revenue	Incorrect type in the chart of accounts	Edit the account and change the type to `EXPENSE`
No data in the comparative column	There are no POSTED entries in the previous period	Change the comparison option or extend the accounting activity
The Download button does not appear	The `reports:export` permission is missing	Ask the administrator to assign you the permission
A difference with the balance sheet	The balance sheet is as of a date; the P&L is over a range. They should only match when the range covers the entire closed fiscal year	Verify the ranges and the fiscal year's closing entries

The Income Statement measures revenue and expenses on an accrual basis (when the entry is recorded), not on a cash basis. An issued but still uncollected invoice appears as revenue, but not as available money. To see the cash movement, review the entries of the Cash/Bank account in the General Ledger.

How does a credit note affect the income statement?

A credit note reduces the revenue of the period in which it is issued. If the original invoice was in March and the credit note in April, the impact appears in April's P&L, not in March's.

Are draft entries summed into the result?

No. Only entries in Posted (POSTED) status are included. If the period's profit seems lower than expected, verify that all the range's entries are posted.

Can I see the income statement by cost center?

The current Income Statement groups by chart account. For analysis by cost center, use the General Ledger with the cost center filter active.

Can I export the P&L to Excel?

Yes, the CSV format downloads all the report lines and opens directly in Excel or Google Sheets. The Download button requires the reports:export permission.