Understanding the Profit and Loss Report

 

The Profit & Loss report in Solo gives you a quick, no-nonsense snapshot of how your business is tracking, what’s come in, what’s gone out, and what’s left over. 

No spreadsheets from 2003. No guesswork. Just the numbers that matter. 

It runs on cash flow, so we only count money when it’s actually hit your account (or left it). Simple. 

Where to find the P+L

To locate the Profit & Loss report, head on over to:

 

More → Reports → Profit & Loss

Date range

Before you open or share the report, you’ll choose: 

 

• This month (default)
• Last month
• This financial quarter
• Last financial quarter
• This financial year
• Last Finincal Year 

 

Format 

• PDF – clean, simple, ready to share 

• Excel (CSV) – perfect if you want to filter, sort, or dig deeper 

Then either: 

• Hit Share to send it straight away, or 

• Tap three dots (…) → Preview and Share if you want a quick look first (PDF only) 

How it works 

Cash-based reporting 

No smoke and mirrors here: 

• Income shows up when you’ve actually been paid
• Expenses show up when the money’s gone 

So what you see = what’s actually happening in your bank account. 

 

What you’ll see 

Your report is broken into clear sections, with categories sitting under each one: 

• Income (with your sales and other income categories underneath) 

• Total Income 

• Gross Profit 

• Expenses (things like accounting, advertising, motor vehicle, utilities) 

• Operating Profit 

• Net Profit (aka the number you really care about 👀) 

Everything is based on the date range you selected, no surprises. 

That’s your Profit & Loss in a nutshell. If anything looks a bit off or you want a second set of eyes, reach out through Solo support and we’ll take a look with you.