Account Profit & Loss - Quick Start

Run the Accounts Profit & Loss [base] Workbook which is View only to get started quickly.

This Workbook runs over GL Profit & Loss accounts and includes multiple Tabs which present a variety of P&L formats. This will allow you to instantly  understand your P&L, see trends, compare to budget etc. 

Each Tab showcases a different P&L report or chart style.

1. Find  a P&L Report or Chart Style
2. Learn how to Customise to your business
3. Create your very own Workbooks 

Video

1. Find a P&L Report or Chart Style  

First select the Tab that best matches the report style you want:

• Report - choose from a Classic P&L, Simple P&L or add Comparisons to other date ranges to see Month to Date v Year to Date, Actual v budget etc.
• Pivot - choose to show data in Rows v Columns, use for a Monthly P&L etc.
• Chart - bring your data to life in a Chart
• Dashboard - combine a number of any of the above along with KPI's on one page

Report

The Accounts Profit & Loss [base] Workbook includes a number of Tabs that use the "Report" style. These appear with an icon that looks like a list against the Tab name.

Tabs that use the Report (List) style include:

Classic P&L

A Traditional P&L running over a single date range:

• Rows - P&L by GL Account including the Account Numbers
• Columns - Actual v Budget with $ Variance and Variance %
• Format - Classic this shows:
  • Sub-totals for Gross Profit | Operating Profit | Net Profit 
  • Income and Expenses all display as Positive numbers so good to use for month-end presentations

Classic MTD v YTD

A Traditional P&L comparing results over different date ranges:

• Rows - P&L by GL Account including the Account Numbers
• Columns - uses Comparison date ranges
  • Last Year v This Year
  • Month do Date v Year to Date
  • Actual v Budget with $ Variance and % Variance
• Format - Classic this shows:
  • Sub-totals for Gross Profit | Operating Profit | Net Profit 
  • Income and Expenses all display as Positive numbers so good to use for month-end presentations

Mth v Mth

A very interesting P&L to see high-level performance month on month, year on year and against budget all in the one very compact report. Great to see seasonality, spot trends and drill down to Accounts to investigate issues:

• Rows - Months
• Columns - uses Comparison feature to display
  • Last Year v This Year
  • Actual v Budget with $ Variance and % Variance
• Format - Classic this shows:
  • Sub-totals for Gross Profit | Operating Profit | Net Profit 
  • Income and Expenses all display as Positive numbers

Simple P&L

A Simple P&L running over a single date range:

• Rows - P&L Account level including the Account Number
• Columns - Actual v Budget with $ Variance and Variance %
• Format -Simple this shows:
  • No Sub-totals for Gross Profit or Operating Profit  only a Simple Total for Net Profit 
  • Subtotals are a Simple sum of Income, Cost of Goods Sold and Expenses
  • Income displays as Positive and Expenses all display as Negative numbers
  • Use Simple Format for internal P&L analysis for more flexibility
  • Use Simple Format as a basis to report on only segments of the P&L or not in Traditional P&L format

Pivot

The Accounts Profit & Loss [base] Workbook includes a variety of Tabs using Pivot type,  choose these to show different data dimensions in Rows v Columns.  Pivot style tabs appear with an icon that looks like this against the Tab name. 

The following Pivot style Tabs are all based on a similar structure:

• Rows - P&L by GL Account 
• Columns - Months or Quarters
• Metrics - Displaying $ Actual only or include Budgets or Prior periods
• Format - Classic this shows:
  • Sub-totals for Gross Profit | Operating Profit | Net Profit 
  • Income and Expenses all display as Positive numbers so good to use for month-end presentations

Tabs that use the Pivot style include:

P&L by Month

• Metrics - Displaying $ Actual only

P&L by Month This Year v Last Year (P&L by Mth TY v LY)

• Metrics - Displaying $ Actual This Year compared to Last Year
• Rows - Collapsed to just show High Level Summary , click on a Row to Expand to see GL Accounts

P&L by Month This Year v Budget (P&L by Mth TY v Budget)

• Metrics - Displaying $ Actual This Year compared to Budget with Variances
• Rows - Collapsed to just show High Level Summary , click on a Row to Expand to see GL Accounts

P&L by Quarter

• Columns - Quarters
• Metrics - Displaying $ Actual, $ Budget. $ Variance and % Variance

Chart

The Accounts Profit & Loss [base] Workbook includes a variety of Tabs using Chart type,  choose these to bring your data alive. These appear with an icon that looks like a bar chart against the Tab name.

Below are a few examples of different Chart types but there are many more available:

Profit Chart

• Mixed Chart Type
  • Months shown in bars
  • Profit is then shown as a cumulative line
• Format -Simple 

Income Bar Chart

• Stacked Bar Chart
  • Filtered for Income only
  • Stacked by GL Income accounts to show the  makeup of Income each month
  • Months shown as bars
• Format -Simple 

Dashboard

Dashboards can combine a number of different reports types and chart types along with KPI's on one page. These appear with an icon that looks like four squares against the Tab name, these indicate the Dashoard is made up from a number of Widgets.

Overview Year to Year

• Mixed Chart Type - Months Year on Year  in Bars and YTD Cumulative as a Line
• KPI Widgets - highlighting Key numbers (YTD Income, Expenses & Profit) v Prior Year

Overview Year to Budget

• Mixed Chart Type - Months. Actual v Budget in Bars and YTD Cumulative as a Line
• KPI Widgets - highlighting Key numbers (YTD Income, Expenses & Profit) v Budget

Learn how to Customise to your business

The Base Reports and Charts are View only so any changes cannot be Saved. However the Base Reports can be customised as follows:

1. Order by  - to change sort order

2. Filter - to add focus 
3. Drill Down - to see more detail
4. Date Range - to select and change Transaction Date 
5. Analyze By - to change data displayed in rows
6. Group by - to add a subtotal
7. Versus - to change Columns in a Pivot

8. Analyze by and Group by - to Change Charts

1. Order by - to change sort order

Change the order of Rows e.g. sort by GL Account Number instead of by Account Name.

• Click on a column to do a simple sort; or
• Click on the Order by icon to add multiple sort orders

2. Filter - to add focus 

Focus on one aspect of your business by setting Filters. In our example we have set a Filter on the Class (Department) field and selected only the Golf Shop. The P&L is now just for this one Department/Division.

• Click on the Blue Funnel icon to Add a Filter field
• Select the Field to Filter on e.g. Class Name
• Click on the Class Name filter box then select Golf Shop 
• Click the red Apply button to run the filter

3. Drill Down - to see more detail

Drilldown to more detail by clicking on a row.

• Click on a Row (GL Account) to Drilldown to see transaction journals
• Setup your own custom drill down sequence by clicking on the blue Cog

4. Date Range - to select and change Transaction Date 

Change the Transaction Date Range for the entire WorkBook once using the Date picker at the top and it will apply this across ALL Tabs that have the Date field linked.

• Click on the Blue Funnel icon on the Tab to Add a Filter just to that Tab
• Select or search for the Field to Filter on e.g. Transaction Date
• Click on Transaction Date field
• Select or enter e.g. LM = Last Month, TM = This Month, LW = Last Week
• Click red Apply button

5. Analyze By - to change data displayed in rows

Change the level of detail displayed in rows using the Analyse By field. Suggest change from GL Account to one of the GL Header Levels  to see a more summarised P&L.  Below the Salaries and other labour expenses are all grouped together under Employee Expenses. GL Header Levels are setup within your accounting system in most systems (except Xero).

• Click on the Analyze by field
• Select another dimension to display that field in the rows e.g. select GL Account Levels (Headers), or select Classes, Divisions, Locations etc.

6. Group by - to add a subtotal

Add a Group by (sub-total) to organise your data in other ways.  This works best using the "Simple" P&L format.  Select Group by Class to see a mini P&L by each Divisions/Department.

• Ensure Format is set to Simple
• Click on the Group by field
• Select another dimension to subtotal by e.g. by Class 

7. Versus - to change Columns in a Pivot

Changing the columns in a Pivot report is extremely powerful and lets you easily see your business from a whole new perspective.

Change columns in the P&L by Month Tab using the Vs field from Months to Class or Class Level to create a Divisional/Class P&L.

• Using  Pivot Type tab e.g. P&L by Mth
• Click the Vs field to select another dimension to display in columns 
• Columns could be Weeks, Years, Divisions, Location etc

8. Analyze by and Group by - to Change Charts

Quick changes can also be made to view only Chart Types.

• Using a Chart tab e.g.  Income Bar Chart which is a Monthly Stacked Bar Chart
• Select Analyse by to select another field on the X Axis e.g. Class / Division / Location
• Select Group by Quarter or Week instead of Month