Project Income Statement
A full income statement for one project: revenue, cost of goods, operating expenses, other income and expense, tax, down to net profit. It has the exact shape of the company income statement, with one project filter.
Questions It Answers
- Is this project profitable according to the general ledger?
- Which expenses have been booked to this project, per account?
- How much cost of goods has been recognised for this project?
Filters
| Filter | What it does |
|---|---|
| Project | Required - this report is always about one project. |
| Journal Date | Journal date range. Empty means the whole life of the project, which for a project report is usually what you want. |
| Division | Pre-filled from the user role's default division. |
| Show Zero Balance | Also shows accounts with no value on this project. |
How To Read It
The layout matches the company Income Statement: revenue and cost of goods, then operating expenses, then other income/expense, then tax, with a subtotal in each part.
- What is summed are journal rows tagged with this project - so every figure here also sits in the company income statement.
- Journal rows already inside a closed period are excluded, and rows still awaiting approval do not count - the same rules as the company income statement.
- Material already purchased but not yet issued to the project does not appear here: it is still inventory. That amount sits in the Not Yet Expensed column of Budget vs Actual and All Projects Summary.
Why The Numbers May Differ
- Project cost looks too small. The material has not been issued through Outgoing Inventory, or the documents carry no project.
- Returns do reduce it - provided the return carries the project. Sales returns and purchase returns have their own Project field, but they do not inherit it from the original invoice: leave the return screen without a project and the project figures stay overstated, with no error to warn you.
- A difference against Project Gross Profit is expected: this report comes from the general ledger and includes expenses and tax; that one comes from sales documents minus purchase documents.
- One document can carry only one project. An invoice shared by several projects and not split will load one project only - or none at all.
- The General Journal carries the project per row, so one journal can contribute to several projects at once in this report.
Menu Location
- Project Management / Project Reports / Project Income Statement
/report/profitlossproject