Finance & Accounting
Profit & Loss Statement
P&L
Statement of revenues, expenses and net profit/loss over a period — typically monthly, quarterly or annually.
What it means
Also called the Income Statement. Shows: Revenue – Cost of Goods Sold = Gross Profit; Gross Profit – Operating Expenses = Operating Profit; ± Interest, Tax = Net Profit. Required by the Companies Act in Schedule III format.
How Easedesk handles Profit & Loss Statement
Easedesk's P&L supports cost-centre, project, branch and group-company drill-down. Indian-specific items (CSR expenses, deferred tax under AS-22 / Ind AS 12) are templated.
Related terms
Want Profit & Loss Statement handled automatically in your ERP? Easedesk does it natively — along with 50+ other Indian business modules.
Try Easedesk free