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Understanding the Profit & Loss tool
Understanding the Profit & Loss tool

How to find and use your Profit & Loss bookkeeping tool

Updated over a week ago

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!

📣 Note

The Profit & Loss tool is available for HoneyBook’s Essentials and Premium plan members. Learn more about the features included in each plan here.

To access your Profit & Loss tool, click the Tools menu in your top navigation bar, and 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're seeing

Total Income

Total payments paid within selected date range. Amount shown does include any gratuity added, but does not include any tax added.

📚 Tip

Processing fees are not deducted from your total income value. Need to see the total amount of processing fees deducted from payments? Download your Payments Completed report!

Cost of Goods Sold

A subcategory 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.

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!

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