Accounting · 61 / 91

Profit and loss, balance sheet

The two statements your accountant and your bank will ask for.

Steps

1. Open it

   Accounting → Financial Statements.

2. Profit and loss

   Income less cost of sales less expenses, for the period you pick.

3. Balance sheet

   What you own and what you owe, as at a date.

4. Export

   Download to send on.

Good to know

• Profit is calculated from the cost of what you sold, not from what you spent on stock that period. Buying a container of goods does not create a loss.