Understanding your Profit & Loss report

The Profit & Loss report (Accounts > Profit & Loss) nets your invoice income against your expenses for a date range you choose, optionally narrowed down to a single business if you run more than one.

Two income figures are shown side by side because they answer different questions: Invoiced counts everything you've billed in the period regardless of whether it's been paid yet, while Received counts only the amount actually paid so far. The profit figure is based on invoiced income minus expenses, not on cash actually received — check the Received figure alongside it if you want to know what's actually landed in your account.

Below the summary, expenses are broken down by category and by month so you can see where your spending is concentrated and how it's trending over time.