Reading your profit and loss
A month-by-month view of income minus expenses, all in your base currency.
The profit and loss (P and L) report in Reports shows your income and expenses month by month over the last year, normalized to your base currency.
- Income comes from invoices you have marked paid.
- Expenses come from your logged expenses.
- Net is income minus expenses for each month.
Because everything is normalized at historical rates, the P and L is comparable across months even when the underlying currencies differ. You can export it to CSV for your accountant.