Profit & Loss Account

In Accounting , the term Profit refers to , A financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain the activity.It is calculated as :

Profit = Total Revenue –Total Expenses

Loss refers to , A negative difference between Total Revenue and Total Expenses. It is a condition in which a company's expenses exceed its revenues.

Profit is the incentive for business; without profit people wouldn't bother. So in business, Profit and Loss are monitored as a separate accounts. The Profit & Loss Account has three parts, The Trading Account , The Profit and Loss Account proper and The Appropriation Account.

The uses of this account is to measure profit , if the profit(loss) has been accurately calculated, this can then be used for comparison of business in the past . Profit & Loss Account can be accurately calculated with the help of Numia, Online Accounting and Bookkeeping software.

Reports can be viewed as charts , can be customized in Excel sheets , e – mailed and can be printed.

Customize Profit and Loss Account

Numia provides advanced features like Profit Analysis based on timeperiod , customers and also for various products.

Analyze your Profit and Loss more efficiently using Numia.biz .