Your Profit & Loss tool is great place to get a pulse on how your business is doing. Within your selected date range, you can review your total income against your cost of goods sold and total expenses, and calculate your net profit or loss!
To access your Profit & Loss tool on mobile, click the Tools icon in your bottom navigation bar, then select Profit & Loss.
From here, you can change the date range using the drop down menu at the top, and click to see more detail in each category.
The numbers you see here are:
Total Income: total payments paid within selected date range. Amount shown does include any gratuity added, but does not include any tax added.
Cost of Goods Sold: a subcategory that’s available when categorizing expenses. This line tallies the total amount of the expenses categorized as one of the Cost of Goods Sold options.
Gross Profit: amount listed in Total Income minus amount listed in Cost of Goods Sold.
Total Expenses: Expenses is the other subcategory that’s available when categorizing expenses (vs. Cost of Goods Sold). This line tallies the total amount of the expenses categorized as an Expenses option.
Net Profit/Loss: amount listed in Gross Profit minus amount listed in Total Expenses.
Want to learn more?
Still have questions? Feel free to send us a message by clicking the Question Mark icon on any HoneyBook page. Our team is always happy to help!