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πŸ’ͺ🏼 P&L beta testing is complete!

Max avatar
Shared by Max β€’ June 06, 2024

P&L has successfully passed beta testing and, became a standalone feature from May 22.

P&L demo report with data from the last 7 days is now available to everyone. To unlock the full reporting period and export features, purchase a subscription in the Finance β†’ P&L tab.

Pricing: $10/mo for the first location in your account and $5/mo for each additional location. Available in all plans.

Let’s take a look at the changes P&L has undergone since beta testing began last October.

Multiple Locations

If you have multiple locations in your account, you can now see financial metrics for each one separately, as well as the total for all locations.

πŸ’‘ Transactions and stock deductions related to 2 locations at the same time are placed in the 'Uncategorized' column.

Percentage Column

To display the ratio of profit and loss to revenue, click Columns β†’ Percentages. This shows the percentage of different income and expense categories relative to revenue, making management decisions easier.

Movable Columns

Move columns around to compare their amounts and percentages for the different months. To do this, click and hold the column title to drag it to the desired position.

New Report Structure

We've updated the P&L structure to a tree format, making it easier to navigate and analyze main and nested categories.

Custom Financial Categories

Now you can select which transaction categories to include in your P&L.

Assign P&L sections for transaction categories

Select a specific P&L section for each category. Sections are:

  • Expenses
  • Cost
  • Profit after taxation

With this update, you can group logistics and utility categories in Costs, or place profit distributions payments after the Profit before taxation section.

Added Stock Deduction Costs Into P&L

Cost equivalents of manual stock deductions can be included either in Cost or Expenses sections of P&L.

By default, all stock deductions are displayed in the Cost category of P&L. When managing deduction reasons in Inventory β†’ Stock deductions β†’ Reasons for deductions choose the P&L category to assign them to: Cost or Expenses.

Accrual Date of Transactions

Now, you can enter both transaction date and accrual date separately. Accrual dates are available for transactions created in the management console and at the POS register.

The Accrual date allows for the accounting of prepayments and postpayments, ensuring that the transaction amount is included in the correct P&L report. For example, a transaction dated in September will transfer funds in September, while an accrual date in August will include it in the August P&L, ensuring accurate record-keeping.

Supply and Cash Shift Transactions Are Not Included in P&L

We removed all transactions with 'Supply' and 'Cash Shift' categories from the P&L report by default. Such transactions cause duplication as supplies are already counted in Cost and Cash Shifts are included in Revenue.

If necessary, you can include them in P&L. Set this up in the Finance β†’ Categories tab.

Supply Date Equals Accrual Date

When you enable Include in P&L for the 'Supplies' financial category, the supply date will be used as the basis for accrual date.

For example, a supply added on October 30 and paid for on November 3 will be reflected in the P&L for October. However, the funds will be deducted from the selected account on November 3.

Taxes and Post-Tax Profit in P&L

This section shows the total amount of taxes for the period, broken down by each tax type.

πŸ“– More info about P&L: