28 - How to Run the Profit and Loss Report

What is the Profit and Loss Report?

The Profit and Loss Report (sometimes called an income statement) shows your local’s income and expenses for a date range you choose, and the net result — whether you took in more than you spent, or spent more than you took in. It’s built from the same accounts you already use to record receipts and disbursements, organized to give you a quick financial picture.

Getting Started / How to Access

Go to your local’s dashboard.
Click the Income & Expenses tab.
On the Income vs. Expenses card, click the export icon in the corner (it looks like a page with an arrow) to open the Profit and Loss Report.

Choosing a Date Range

The Profit and Loss Report uses the same date range as your Income & Expenses page. Along the side of the report, you’ll find quick options:

Current Budget Period (if your local has one set up)
Current Year
Last 12 Months
Last 30 Days
Custom Date Range — enter a Start Date and End Date and click this button to see the report for exactly the period you want

Changing the date range updates the report to cover only income and expenses recorded within that period.

Reading the Report

The report lists your accounts in two sections:

Section	What It Shows
Income accounts	Every income account with activity in the date range, indented to show which accounts roll up into which.
Total Income	The sum of all income for the period.
Expense accounts	Every expense account with activity in the date range, indented the same way.
Total Expenses	The sum of all expenses for the period.
Net Income	Total Income minus Total Expenses. Shown in green if positive, red if negative.

Accounts are shown in the same hierarchy as your chart of accounts, so a parent account’s total includes everything recorded to its sub-accounts.

Drilling Into an Account

Click any dollar amount next to an account name to open a detail window listing every individual transaction that makes up that total:

For income, you’ll see the date, the payor, and the amount — click the payor’s name to jump to their record, or the amount to see their full payment history.
For expenses, you’ll see the date, the payee, and the amount — click the amount to open the disbursement authorization it came from.

This is the fastest way to check what’s behind a number that looks larger or smaller than you expected.

Tips

Run it before every board meeting. A quick Current Year or Last 12 Months view gives you a ready-made summary to report on.
Use a custom range to match your fiscal year if it doesn’t line up with the calendar year — enter your fiscal year’s start and end dates and click Custom Date Range.
Drill into unexpected numbers before you present them. If a total looks off, click into it before your meeting rather than during it.

Troubleshooting

Q: An account I expected to see isn’t listed. A: The report only shows accounts with income or expense activity within the date range you’ve selected. Widen the date range, or confirm the transaction was recorded to the account you expect.

Q: The Net Income doesn’t match what I expected. A: This report reflects money received and spent — a transfer between your own bank accounts or funds won’t appear here, since it isn’t income or an expense. If a number still looks wrong, drill into the account to review the individual transactions.

Q: Can I export or print this report? A: Use your browser’s print function to print the report as shown. There is no separate export button on this report.

How to View a Bank Account Ledger
How to View a Fund Ledger
How to Create a Disbursement Authorization
How to Record a Dues Payment

Glossary

Local — The individual unit within your organization where members hold their primary membership. Depending on your organization, this might correspond to a lodge, chapter, local committee, or similar body.