How to identify profit or loss in Profit and Loss report under financial report ?

Question

Hi,
Regarding Accounting > Reporting > Legal Reports > Accounting Reports > Profit And Loss, if i click on the Profit and Loss Report it will shows a wizard to give some credentials, after that it will printout as a pdf format. In that pdf i can view the income and expense details, i wish to see is a Profit or Loss with an accurate amount.
For eg: Profit : 10000 INR / Loss 5000 INR like that.
Can i do something like that. I have surfed about this thing and i got little idea but its not fulfilled

JP · Answer

I close period. but there are no centralization of debits and credits in *Profit and Loss account*(i'm using a brazilian chart of accounts). Where is the mistake? ( i'm suspecting of account type setting)

michel Guénard · Answer

The accounting profit or loss for a period results from the balance between all credits (sales etc) and all debits (expenses etc) shown by the Profit & Loss *report*.

When you "close" the accounting period the net balance of credits and debits is transferred/recorded/posted to the *Profit and Loss account* - the information you are looking for -.

If you do not close the period, such accounting record is not posted; thus you need to calculate it.

Pascal Tremblay · Answer

https://www.youtube.com/watch?v=LsHEYcYn4fY

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