How to Access Profit and Loss Account

Overview

Welcome to the Papercare Working Papers help section. This guide will assist accountants to access Profit and Loss Account which provides a comprehensive view of your company’s income, expenses, and overall profitability for a specific period.

How to Access Profit and Loss Account

Step 1 :Accessing the Profit and Loss Account

To access the Profit and loss account, go to the “Accounting” tab located in the main menu.

Step 2 :Default Expand Mode

Click on the “Profit and Loss Account” to open it. By default, the account will open in expand mode, displaying detailed profit and loss account. You can choose to collapse sections for a more compact view.

Step 3 :Viewing Account Details

Within the Profit and Loss Account, you’ll see details such as Lead schedule name, control accounts, schedule reference, income-expenses for both the current year and the previous year (if any).

Step 4 :Analysing Variances

The account also highlights variances between the current year and the previous year’s figures, presented both in terms of absolute values and percentages.

Step 5 :Exploring Additional Information

Notes, queries, review points, and attachments related to specific control accounts are accessible via popup notifications. These numbers indicate any associated items for further review.

Step 6 :Navigating to Control Accounts

Click on the relevant popup to access details in the control account tab, where you can view and manage notes, queries, review points, and attachments.

Step 7 :Interactive Features

Control accounts, lead schedules, and schedule references are clickable links. Clicking on them redirects you to the respective lead schedule or control account for detailed breakdown.

If you have any further questions or need additional assistance, please contact our support team.