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About the Profit and Loss by Period report in Reckon One

Learn how to use and customise the Profit and Loss by Period report in Reckon One, so you can understand how your income, expenses and net position have changed over time.

About the Profit and Loss by Period report

Use the Profit and Loss by Period report to see your income, expenses and net position for a particular period compared to other periods, so you can understand how your net position has changed over time. While you can use your standard Profit and Loss report in Reckon One to compare against one other period, this report allows you to compare report data with up to 12 additional time periods.

Run the report

  1. In the Reporting menu, select Reports.
  2. Click on the Profit and Loss by Period report (found in the Financial category).
  3. Select your Reporting period, the time range you wish to see data for. Select one of the the standard options or select The following dates to enter dates of your choosing.
  4. Select a Compare with option, which is the time range against which to compare the data in the Reporting period. Select one of the standard options or select Related date range to select dates of your choosing.
If you select The following dates in your Reporting period and Related date range in your Compare with field, the date ranges must be the same length.
  1. Select Number of comparisons, which is the number of Compare with periods you wish to see (this will include the original Compare with period you selected).

A couple of examples of how the Reporting period, Compare with, and Number of comparisons work together to give you a tailored snapshot of your business' position at different points in time:

For example, imagine you're at the end of December, and you want to look at your income and expenses for the month of December over the last 4 years. In this case, you would select a Reporting period of This month, a Compare with period of Previous year, and Number of comparisons of 4. The first column of your report will display data for this month, December (your Reporting period), and your comparison columns will show data for the same month (December) for the previous year, and for each of the 3 years prior (that is, it will show data for December last year, 2 years ago, 3 years ago, and 4 years ago).

Another example might be if you wish compare your financial year to date results now, with those for the last 2 quarters, so you can see whether your finances are improving, declining or staying on track. In this case, you would select a Reporting period of This financial year to date, a Compare with period of Previous quarter, and Number of comparisons of 2. The first column of your report will display data for this financial year to date (your Reporting period). The comparison columns will show data for the same time period (financial year to date) for the previous quarter, and for each of the 2 quarters prior (that is, it will show data for the same financial year to date period last quarter and the quarter before.).

  1. (Optional) To customise the report further (including sorting, filtering and choosing data to show), click Show more options. Follow our detailed steps for customising your report.
  2. Click Refresh to update the report with your selections.

Customise your report

You can customise the information shown in your report and sort and filter data:

  1. In the Reporting menu, select Reports.
  2. Click Generate on the Profit and Loss by Period report (found in the Financial category).
  3. Click Show more options.
  4. Once you've made your customisations, click Refresh to update the report.

Sort by account order, name, or code

To sort your data, select an option in the Sort by dropdown:

  • Account order (to sort by your chart of accounts order)
  • Account name (to sort alphabetically by account name)
  • Account code (to sort numerically by account code)

Choose the level of sub accounts shown

To choose whether to show all sub accounts or select the level of sub accounts shown, use the Sub accounts dropdown.

Filter by project

To filter by project:

  1. In Projects, select:
    1. All to show all projects
    2. Selected to choose specific projects to show.

Filter by classification

You can filter by classifications that have been assigned to line items within transactions:

  1. In Classifications, select:
    1. All to show all classifications
    2. Selected to choose specific classifications to show. This will show a list of possible classifications, along with the option to select No classification if you wish to show data that doesn't have a classification assigned.

Show or hide columns

To show or hide columns in the report:

  1. In Columns, select checkboxes against the columns you want to show.

Choose reporting basis

  1. In Reporting basis, select Cash or Accrual.

Show or hide zero balances

  1. In Other options, select Show Zero balances to include accounts that have a zero balance.

Show or hide net position summary

  1. In Other options, select Show net position summary to show a higher level view of your net position, without account-specific details.

Choose report orientation

  1. In Orientation, choose whether you wish the report to show in portrait or landscape (your selection will also apply when exporting the report).

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