Profit / Loss Report

Step 1: Open Report Page

Ø Navigate to Reports → Profit / Loss Report

Step 2: Select Filters

ØDate Range -> Select required period(Example: 07-06-2021 to 07-06-2026)

Ø  Business Location -> Select location(Example: Location 1)

Ø  Click Filter

Step 3: Purchase Section

Ø  Total Purchase = 796.00 -> Total amount spent on buying goods

Ø Purchase Return / Discount -> returns or discounts applied

Step 4: Sales Section

Ø  Total Sale

Ø  Discount

Ø  Sales Return

Step 6: Cost Section

Ø  Total Cost = 735.00

Ø Cost of goods sold (COGS)

Step 7: Other Adjustments

Ø  Total Expense

Ø Shipping Charges

Ø  Customer Reward

Ø  Stock Journal (Inward/Outward) 

Ø  Stock Recovered

Step 8: Gross Profit Calculation

Ø  Formula:Gross Profit = (Sale items profit value i.e (((sale item sell price - sale item cost price)-(sale return item sell price - sale return item cost price))-expense))

Step 9: Final Result

Ø  Gross Profit = 103.75

Ø  Business is in profit