What is the use of Profit and Loss Statement on Accounts?

profit and loss statement is basically a list of rent income and expenses related to the property. Expenses incurred might include property taxes, utilities, insurance and property management fees etc. A P&L statement typically includes both monthly and yearly figures.

On PropSpace Property Management, to generate P&L Statement follow the steps below

• Go to Accounts and select “P & L Statement” from the dropdown

• Further can apply filters to filter by the “Due Date” or “All-Time”, Account Types

• Can also filter by “Pending records” or “Paid records” or both “Pending & Paid records”. Filters can be applied for “All Incoming”, “All Outgoing” or “All” which contains both incoming and our going payments.