Reporting
Profit And Loss
The Profit & Loss report — also called the Income Statement — shows your income, expenses and resulting net income over a period of time. It answers the core question "did the portfolio make money, and where did it come from?" The consolidated version combines activity across your entities/properties into a single statement.
What it shows
The report is built straight from your chart of accounts and journal entries, so it always reflects what was actually posted to the ledger:
- Income — every income account, grouped under its parent accounts, with subtotals.
- Expenses — every expense account, similarly grouped.
- Gross profit — for property management this equals total income (there's no cost of goods sold).
- Net operating income — income minus expenses.
- Net income — the bottom line for the period.
Note
Income and expense lines are derived from GL account postings (P&L style), not from invoice line categories. That means reversals, adjustments and direct journal entries are all reflected.
Important
The report includes inactive accounts that still carry activity in the period. If an income or expense account was deactivated (for example, deactivated in QuickBooks) but still has postings, those amounts stay on the statement so the period is never understated.
Set the period
- Open Reports and choose Income Statement Consolidated (Profit & Loss).
- Set the date range — pick a preset or enter custom from and to dates. The default range is year-to-date (Jan 1 to today).
- Choose the accounting method:
- Accrual (default) — income is recognized when invoiced and expenses when billed.
- Cash — income and expenses are recognized when money actually moves.
The report re-runs automatically when you change a filter.
Compare periods
Open the Compare options to add side-by-side columns:
- Previous year
- Previous period
- Year to date
- Previous year to date
- Custom period
You can also show dollar change and percent change between columns.
Note
Comparisons are turned off while you're splitting columns by a dimension (below), to avoid an unreadable number of columns.
Split and filter by dimension
You can narrow the statement — or break it into columns — by tenant, program, property or unit using the Display columns by option and the dimension filters. This is the equivalent of QuickBooks' "Display columns by" view.
Drill down
Click any income or expense line to open the Transaction Report for that account and period — the exact transactions that make up the number. See Transaction report.
Export, share & email
From the toolbar you can:
- Export to PDF, Excel or CSV.
- Print the statement (always renders in light mode for a clean PDF).
- Share a secure, token-based link that recipients can view without logging in.
- Email the report or schedule it to send on a recurring basis.
- Save the current filters as a saved view to reuse later.