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Forum Post: RE: Report - GL Loss and Profit Report

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You can use the Trial Balance Report (Financial/General Ledger/Reports/Trail Balance) and Detail General ledger ((Financial/General Ledger/Reports/Detail General Ledger) to identify the Asset & Liability Balances, Income & Expense Balances for the particular company.

Formula for Profit/Loss calculation:

Net Amount =  Total Income - Total Expense  

If Net Amount is positive amount, it's profit for particular financial year

If Net Amount is negative amount, it's loss for particular financial year

Hope this helps.

Thanks,

Perumalsamy R


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