Profit and Loss Report
The Profit and Loss Report (P&L) is a report that shows your total Income and your total Expenses in a specific period of time. To access your P&L Report, click on 'Profit & Loss' on the left-hand side of the ProfitGauges Overview page.
If you have multiple trucks, you can view this report by each truck individually or for the whole company. Click on the drop-down menu under the picture of your truck (or where it says 'Upload Photo' if you have't added a picture) and select the truck you want to view or select 'My Company' if you want to view the reports for everything under all of your trucks and in the My Company section.
Just like with the Business Report, you can view your P&L by month, quarter, or year-to-date. If you have multiple years entered into ProfitGauges, you can easily switch between years by clicking on the year that is shown in big bold numbers at the top of the page.
Next to the year you will see the completed months in black, the months that are grayed out are the months that are not entered yet. To switch between months, simply click on the month you wish to view. Next up, you will see the quarters. Just like with the months, any quarter in black are the ones that are completed and the ones that are grayed out are the ones that are not saved yet. You can switch between quarters by selecting the available quarter you want to view.
Reading your Profit & Loss Report:
The P&L is broken down into three sections: Income, Expenses, and Summary. The Income section shows your total gross revenue, the Expenses section shows all of your expenses per expense category, and the Summary section gives you an at-a-glance view of total income, total expenses, and total profit.
Under the Expense section, when the main category is black this means it doesn't have a subcategory linked to it or the subcategory is named the same as the main category. Main categories that are blue are ones with subcategories and can be clicked on in order to show and hide the subcategories. You can view all your subcategories at once by clicking on the 'Show Subs' button at the top of the page.
Anything under Retained Earnings does not show on the reports because this category is used to balance a settlement for items that are not tax deductible such as money put into a maintenance account, or to keep expenses from doubling such as fuel that is already entered from syncing with FuelGauges.
To print your report, click on the green 'Download' button at the top of the page. A window will pop up asking if you would like a Simple or Detailed report. The Simple report will show the main categories and the Detailed report will show the main categories along with all of the subcategories. If you clicked the download button on accident you can click 'Never Mind' to close the pop-up window.