Profit / Loss Summary Report

Overview

This report displays profit and loss at a cost centre level to assist in examining the profitability of cost centres and job management costing.

The Profit / Loss Summary Report is a financial report and is useful for monitoring the values that are exported to your accounting package.

In other words, it is a summary of income generated and costs incurred by the selected cost centres, and is best used as a long-term report to be generated at the end of the month, the quarter, or last financial year.

The Profit / Loss Job and Profit / Loss Summary reports both display profit and loss, but the majority of the time they do not report the same values due to the following differences:

  • The Profit / Loss Summary Report looks at individual transactions on jobs, such as purchase orders, and checks which cost centres the orders were invoiced against when calculating costs. Additionally, the report looks at the date range of individual transactions. If purchase orders were invoiced within the date range, they are included in the report. In some cases this can mean that a job is included in the report because it was invoiced within the date range, but a purchase order raised for that job is excluded, because it was invoiced outside the date range.
  • The Profit / Loss Job Report only looks at the cost centres on the jobs and when the entire job was invoiced. If the final customer invoice issued for that job is within the date range, the job is included in the report.

If you use inventory tracking , the report maybe affected by different material costing.