Profit and loss and balance sheet
You will know which entries build each line of the Profit & Loss, the Balance Sheet and the Cash flow report, why the company result differs from the sum of trip profits, and what to post before you read them.
Reports › Profit & Loss, Balance Sheet and Cash flow are the three financial statements. They are built from the same ledgers as the Trial Balance, grouped by the Nature of each account group in the chart of accounts: income and expense groups make the Profit & Loss; asset, liability and capital groups make the Balance Sheet; the movement of cash and bank ledgers makes the Cash flow.
Choose a range with Select Range and print or export to Excel from the toolbar. The financial year selector decides which year’s opening position is used.
Profit & Loss: what feeds each side
Line | Where it comes from |
|---|---|
Freight and other income | Customer Invoice lines, including adjustments such as detention or halting billed on the invoice |
Supplier hire | Supplier Invoice lines from truck owners for market vehicles |
Fuel | Fuel Tracking entries, whether Paid, Not Paid or Paid By Employee |
Repairs, parts and services | Vehicle Maintenance records and Purchase Invoices for parts consumed |
Trip and office expenses | Expenses vouchers, by the Expense Accounts ledger on each line |
Driver and staff costs | Payroll runs (gross, additions, deductions) and trip-based pay through Employee Payments |
Interest | The Interest part of each loan EMI posted from Schedules |
Depreciation and standing bills | Rows posted from Schedules with Post due |
Other journal entries | Journal vouchers on income or expense ledgers |
Balance Sheet: what feeds each side
Line | Where it comes from |
|---|---|
Cash and bank | The accounts under Books › Bank, as in Cash In Hand and Money in Banks |
Account Receivables | Customer ledgers: invoices less receipts and advances |
Account Payable | Supplier ledgers: supplier and purchase invoices less payments |
Employee balances | Advances given and amounts owed to drivers and staff |
Stock | Products with Enable Stock Posting, valued from purchases less adjustments and issues |
Fixed assets | Asset ledgers, reduced by depreciation posted from Schedules |
Loans | Loan liabilities from Books › Loans, reduced by the principal in each EMI paid |
Tax ledgers | GST or VAT collected and paid, by rate, from invoices and expenses |
Capital and opening balances | OB vouchers at go-live and the retained result of earlier years |
Cash flow
The Cash flow report follows money rather than profit. It shows what came in and went out of the cash and bank accounts over the range: receipts from customers, payments to suppliers and employees, expenses, EMIs, loan money landed and transfers. It is the report to read when the Profit & Loss shows a profit but the bank is empty, because unpaid invoices count as income on the Profit & Loss and not as cash here.
Company profit versus trip and vehicle profit
- A booking’s profit panel is Revenue − Supplier Pay − Expenses − Fuel Expenses − Driver Payments. It counts only what was linked to that booking.
- The Vehicle Profit/Loss report adds up the same five figures for every booking on a vehicle and shows Total Revenue, Total Supplier Hire, Total Employee Payments, Total Fuel Cost, Total Expenses and Total Profit.
- The Profit & Loss adds everything else: office expenses not linked to a trip, monthly salaries from payroll, interest, depreciation, standing bills and journal entries. So the company result is normally lower than the sum of trip profits, and the gap is your fixed cost.
Before you read the statements
- Run Post due in Books › Schedules so the month carries its interest, depreciation and standing bills.
- Approve any Draft journal vouchers that belong in the period.
- Check that all Not Paid fuel fills and supplier bills for the period have been entered, or the cost will land in the wrong month.
- Confirm the Trial Balance totals agree; if they do not, a voucher is incomplete.
Need Help?
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