Net Profit / (Loss)

This card takes every income account and subtracts every expense account for the fiscal year so far, giving the same bottom line as the Profit and Loss Statement without opening the report. A figure in brackets is a loss. It is a custom function over GL Entry for fiscal year 2083-2084; in the demo it starts from revenue Rs 64,000 and deducts purchases, overheads and the monthly depreciation of Rs 1,235.54. Income tax is not deducted here, so treat it as profit before tax.

Net Profit = Sum of income account credits minus debits, less sum of expense account debits minus credits, current fiscal year

1. 01Go to Financial Reports and read the card beside Revenue and Expenses.
2. 02Click the card to open the Profit and Loss Statement for the current fiscal year.
3. 03To change the period, open the card menu > Edit and set another Fiscal Year.
4. 04If the number is in brackets, open Expense Breakdown on the same workspace to find the biggest cost.
5. 05Use the figure to estimate advance income tax instalments due to the IRD.

Shows at a glance whether the year is profitable so far.

Revenue Rs 64,000 less expenses including depreciation gives the year to date profit.