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How to Read the Profit and Loss Summary
How to Read the Profit and Loss Summary

Dashboard summary, profit and loss summary

Yzza avatar
Written by Yzza
Updated over a week ago

If you'd like to see a quick report on how your business is doing, you can find the "Profit and Loss Summary" Report at the upper right of the Dashboard page in LessAccounting.

You would notice that this area of your LessAccounting Dashboard contains a bar and line chart. Here's what each of its features mean:

1. On the X-Axis (horizontal, bottom part of the graph), you'll find the months being shown in the graph.

2. On the Y-Axis (vertical, left side of the graph), you'll find an amount that could indicate your total income, expenses, and net profit.

3. All the green bars (which can be found above the zero mark) represent the income generated on a month-to-month basis. All the red bars (which can be found below the zero mark) represent the expenses incurred on a month-to-month basis.

4. Notice that another component of your graph is a line. This line has dots in each month represented in the chart, and this dot actually represents your total income for the month. 

5. When you hover over the green bars, red bars, or even the dot, you get to see the actual amount of money received (sales), spent (expenses), and made (net income).

6. When you click on "full report", you get taken to a page that also shows you a monthly summary of net income. Green, positive figures indicate a net income, while red, negative figures indicate a net loss.

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