Run and understand a profit and loss report
Compare revenues, expenses and net income using the intended dates, rental scope, report source and shared-transaction treatment.
On this page
Sign in to the intended landlord portfolio with accounting access. Follow any plan or permission notice; do not assume another account role has the same report access.
Review unbooked imports and the dates, rental scope and report source you intend to compare. Opening a report does not book a draft or correct an existing entry.
Step 1: Open the current P&L report
Choose Open Profit and loss below. You can also open Accounting, choose Reports and find Profit and loss (P&L) under Income. Read the displayed dates, rental scope and report basis above Revenues, Expenses and Net income.
Step 2: Set dates, rental scope and report source
Open More filters. Choose By property or By time period under Report view. Set Date range; Custom dates reveals From and To, including both selected dates. Under Portfolio/property, choose Full portfolio or the intended rental, expanding its picker entry to select a unit when needed. For property comparisons, choose Property or Units and shared transactions under Columns. For a time comparison, choose Monthly, Quarterly or Annual under Time grouping. Set Report source explicitly before Run.
Step 3: Choose how shared transactions appear
For a property comparison without a unit filter, use Property columns. Under Shared portfolio transactions, choose Keep separate or Divide revenues and expenses evenly by property, then Run. Read any unallocated-source note and compare the same date range and report source before deciding an amount is missing.
Step 4: Review and export the same view
Compare category lines and totals in Revenues, Expenses and Net income. Open Download and choose Excel workbook (this view) or CSV (this view) to keep the reviewed filters and allocation. If CSV (the export) also appears, it is a separate export; use the current-view option for this comparison. PDF is also available. Check every column, date, basis and total in the saved file.
Read the category totals
The ordinary report groups supported records by category, without a parent/sub-account hierarchy. An expense category does not establish tax deductibility.
Loan principal, escrow funding, transfers, owner draws and fixed asset purchases are not ordinary P&L expenses. Financing movements and noncash deductions can make net income differ from operating cash flow. Review the entire table, including columns reached by horizontal scrolling.
| Report line | What it represents |
|---|---|
| Revenues | Supported income for the selected dates, scope and source. |
| Expenses | Supported costs, including interest and recorded depreciation. |
| Net income | Revenues less expenses for each column. |
| Total column | Right-hand total when multiple columns are shown. |
Check the report scope and missing activity
Full portfolio defines coverage; it does not guarantee one combined column in By property. Columns depend on the selected view, source and activity. Rentals and units can be selected here. Sub-portfolio comparison is not available in this workflow.
| Check | Before using the totals |
|---|---|
| Dates and source | Compare the same period and basis. Recorded-ledger reporting uses a recorded payment date when present or the transaction date otherwise; payment-based reporting excludes unpaid activity. |
| Property, unit and shared amounts | Check the original assignment, chosen column layout and allocation. Unassigned or unknown source activity may remain separate or outside a selected property; read the report’s notes before adding another entry. |
| Missing properties or categories | Review activity, property status, date range and original categories. Empty columns may be absent. A zero or a missing line does not establish that no activity occurred. |
| Imports and corrections | Check whether an import or scan is still a draft, then review duplicate records, transaction type, loan components and depreciation. Correct the original record through its dedicated workflow. |
| Other reports | Use Operating cash flow for its supported debt/escrow movements, NOI for operating performance before interest/depreciation, and account or balance-sheet reports for their stated coverage. None is a complete live bank balance. |
Check the result
- The displayed dates, rental scope, source, columns and allocation match the intended comparison.
- The current-view Excel or CSV matches the report. Any PDF is checked for complete column coverage before it is used.
FAQs
Why is net income different from the cash change?
P&L reports revenues and expenses for its selected source. Cash movement can also include principal, escrow, transfers and owner funds, while depreciation is noncash. Compare the same dates and scope with Operating cash flow and original account activity.
Why is an expense missing?
Check whether it is saved rather than an import or scan draft, then compare its payment or transaction date, rental, unit, category and report source. Review shared or unknown-source notes and any allocation choice. Do not add a duplicate expense to force a match.