- Navigate to Reports > Financial > P&L
- Adjust the date range as needed
- Either view the report in Silo, or use the Export or Print buttons on the top right of the screen
The P&L report summarizes the user’s profits and losses across a date range (by default, from the beginning of the year to the current date). It shows a line for each income account and each expense account, and it calculates the user’s total income, total cost of goods sold, total expenses, and total other expenses. These values are then used to calculate gross profit, net operating income, and net income.
Calculations
TOTAL INCOME = sum of all of the income account balances
TOTAL COST OF GOODS SOLD = sum of all the cost of goods sold account balances
GROSS PROFIT = TOTAL INCOME - TOTAL COST OF GOODS SOLD
TOTAL EXPENSES = sum of all the above expense account balances
NET OPERATING INCOME = GROSS PROFIT - TOTAL EXPENSES
TOTAL OTHER EXPENSES = sum of all other expenses account balances
NET INCOME = NET OPERATING INCOME - TOTAL OTHER EXPENSES