Home > templates >

Invoice Software for Small Business | InvoiceBerry

2020-02-20[templates]

SummaryThe profit and loss account is an account in a companys accounting books which credits a companys incomes and gains and debits the companys expenses and losses. The result is shown as the net profit o

The profit and loss account is an account in a companys accounting books which credits a companys incomes and gains and debits the companys expenses and losses. The result is shown as the net profit or net loss over the given period of time, which is most commonly a financial year.



The profit and loss account shows the revenue which a company made in a given period and deducts the expenses and costs which are charged against the companys revenues. The result will indicate the companys net income or net profit or in the case of a loss the net loss.



The net profit or net loss is used in the companys balance sheet

.

Related post

Fature Post