Profit and loss

The profit and loss account, also known as the income statement, summarises what was earned and spent in a period.

Run the report

1. Open Reporting → Financial → Profit and loss.
2. Pick the period (a date range).
3. Optionally pick a comparison period (last year, last month).
4. Optionally filter by site or estate.
5. Run.

What it shows

The report has two main sections:

Income

• Service charges
• Ground rent
• Interest income
• Admin fees
• Insurance recoveries
• Other income

Expenditure

• Repairs and maintenance
• Insurance premiums
• Cleaning and gardening
• Management fees
• Utilities
• Professional fees
• Bad debts
• Other expenses

The bottom line is Surplus or deficit for the period, which feeds retained earnings on the balance sheet.

Comparison columns

When a comparison period is set, the report adds:

• The current period's amount.
• The comparison period's amount.
• Variance (£ and %).

Useful for spotting where this year's spend is materially different from last year's.

Drilling in

Click any account to see every transaction that contributed to its balance in the period.

What this report is not

In Block Management, surplus or deficit at site level usually accrues to leaseholders (it offsets next year's demands). The P&L is therefore a reporting view rather than a measure of the agent's profitability. The agent's own profitability comes from the management fee income and operational costs at organisation level.

For service charge year-end purposes, the Service charge year-end pack is the more useful report. See Service charge year-end pack.

Export

PDF, Excel, CSV.