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Net profit on dashboard - mockup attached

Hi,

Is this a possibility?

It’s not really that simple - first off both the sales and purchases totals on the dashboard are inc VAT so they’re not really about profit, more about cashflow (how much you owe suppliers and are owed by customers). And secondly “purchases” includes all purchases whether they’re expenses or assets, and doesn’t include other things that are costs but not purchases (e.g. salaries). Simply subtracting the purchases total from the sales total doesn’t tell you much, you’d be better off either using the segmented P&L report or setting up a custom report where you can choose exactly which nominals you’re interested in.

first off both the sales and purchases totals on the dashboard are inc VAT so they’re not really about profit, more about cashflow (how much you owe suppliers and are owed by customers).

I’m not VAT registered so that isn’t an issue.

And secondly “purchases” includes all purchases whether they’re expenses or assets, and doesn’t include other things that are costs but not purchases (e.g. salaries).

That’s exactly how I’d like it to work. To include everything including assets but exclude salary (as salary is obviously my own profit as I’m the only shareholder).

Simply subtracting the purchases total from the sales total doesn’t tell you much, you’d be better off either using the segmented P&L report or setting up a custom report where you can choose exactly which nominals you’re interested in.

Right so how do I generate a bar chart with this? I explored P&L but not seeing any bar chart over the past year, I can only see a one-time pie chart. I need historic info.

What would be the formula within custom reports?
(4000:4999)-(5000:5999) ?

In that particular case I guess that’s true, but in general if you have other employees then their wages are an expense, but not one that is recorded as a purchase.

(4000:4999)+(5000:5999) would get you the figure that shows as “gross profit” on the P&L report - it’s a plus rather than a minus because the 4xxx codes are typically credits and the 5xxx codes are debits.

If you want something that includes other purchases for overheads and not just 5xxx cost of sales codes then you’d also need to add in 6000:6999, 7100:7999 (not 7000:7099 as those are salary-related codes) and 8200:9999 (80xx are depreciation codes, 81xx are related to bad debt).

To include assets as well gets horribly complicated because the original asset purchase codes are interspersed with the depreciation codes, and you need to skip things like bank accounts, control accounts, etc.

I’m not interested in assets. Only sales minus purchases.

Can you provide the formula then? I have tried:
(4000:4999)-(5000:6999)
(4000:4999)+(5000:5999)
but none of them look correct as they are constantly rising which, I know isn’t correct because month per month, my profit hasn’t increased substantially.

The default line chart view of a custom report is cumulative, if you want the month by month numbers you need to select the bar chart view with the middle one of the three buttons to the left of the “update” button.

Screenshot 2020-11-19 at 16.12.34

Thanks. I’ve done that but I don’t think it’s coming out quite correct. I’m specifying October

I’ve attached an excel form which I have outlined in red the items that I need in addition to take away from the Net so it’s correct

If I want to take away the additional accountancy codes, is it like this?
(4000:4999)+(5000:5999)-7502-7506-7601-8201

Also I’m not sure what Suspense account is, so I’m leaving it out. It may be gocardless which is the only service I use to charge customers.

.

Again, plus rather than minus because expenses are debits, which are treated as negative numbers in this situation.

(4000:4999)+(5000:5999)+7502+7506+7601+8201.

It’s now giving:
2,496.70

Which is still higher than I calculated within the displayed excel form.

Your excel calculation also included nominal 6000.

thanks. For anyone else that needs it, the code I used was:
(4000:4999)+(5000:5999)+6000+7502+7506+7601+8201

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