The Profit and Loss Account shows the operational results over a given period. It lists out the Incomes and Expenditures based on the Primary Groups of Tally and the Profit & Loss Account in Tally is updated instantly with every transaction voucher that is entered and saved.
To view the Profit & Loss Account
Go to Gateway of Tally > Profit & Loss Account
Note: The Profit & Loss Account is displayed according to the configuration set up for it in F12: Configure.
Horizontal Form of Profit & Loss Account
The sample screen shown is in horizontal form which is the default display. You can also set it up to display in vertical form.
Using options in the Button Bar
| 1. | Select F1: - Detailed/Condensed to display more information or condense. |
| 2. | Change the date of the Profit & Loss Account using F2: Period. |
| 3. | Add new columns to |
| · | Display a Profit & Loss Account for a different period to compare with the current one |
| · | Display the Profit & Loss Account in a different currency |
| · | Display a column with Budget figures and analyse variances |
| · | See the effect of different Stock Valuations on the Profit/Loss account. |
| · | Select and compare Profit & Loss of different companies. |
More:
Configuring the Profit & Loss Account
Income/Expense Stmt instead of P&L?