The Income Statement, also called the Profit & Loss (P&L) Statement, shows how much money is coming in, how much is going out, and whether your business is turning a profit.
You’ll see a breakdown of:
Revenue: The income your business earns from sales or services.
Cost of Goods Sold (COGS): The direct costs of producing goods or delivering services.
Operating Expenses: Overheads like rent, payroll, marketing, and utilities.
Net Profit or Loss: What’s left after subtracting costs and expenses from revenue.
This report gives you a clear picture of your financial performance over time.
You can interact with the report using built-in tools designed to help you track profitability and control spending:
Date Filter: View your financial performance for any specific period (e.g., This Month, Last Quarter, Custom Range).
View Switcher: Toggle between monthly, quarterly, or yearly views to analyze trends and seasonal shifts.
Export Option: Download your Income Statement as a CSV or PDF to share with stakeholders or review offline.
As soon as the report is created, Adam analyzes your Income Statement and surfaces insights at the top of the page:
A smart summary showing whether your business is in profit or loss and by how much.
Highlights of the fastest-growing expense categories, helping you pinpoint cost areas to watch.
Recommendations tailored to your numbers, such as where to reduce costs or how to improve your margins.
Think of your Income Statement as a story of how your business earned and spent money. Adam highlights the plot twists, like rising costs or shrinking margins, so you know where to focus next.