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PatientNow Essentials/EnvisionNow x Payrix: Profit and Loss Statement

Profit & Loss Statement

The Profit & Loss (P&L) Statement report provides a detailed overview of your company’s financial performance over a specific period. It highlights key financial data, helping you analyze income, expenses, and profitability effectively.

What is a Profit & Loss Statement?

A Profit & Loss Statement, also known as an income statement, summarizes revenues, costs, and expenses incurred during a specific time frame—monthly, quarterly, or annually.

This report helps businesses determine their financial health by calculating the difference between income (revenues) and expenses (costs and losses). The bottom line—referred to as Net Income or Net Profit—shows whether the business is operating profitably or at a loss.

Access the report by going to Reports > Dashboards > Profit & Loss

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Key Sections of the Profit & Loss Statement

Section

Description

Revenue

The total income generated from the sale of goods or services.

Cost of Goods Sold (COGS)

Direct costs associated with the production of goods or services sold.

Gross Profit

Revenue minus COGS, representing the profit made before deducting operating expenses.

Operating Expenses

Costs incurred during regular business operations, such as rent, utilities, marketing, and salaries.

Net Income

The final profit after all expenses (including taxes, interest, depreciation, etc.) have been deducted.

Breakdown of the Profit & Loss Statement

Income Section

The Income section details the totals contributing to Gross Income, including:

  • Transactions: Total revenue from completed transactions.

  • Disputes: Funds recovered or lost due to transaction disputes.

  • Fees: Charges deducted for services or payment processing.

  • Adjustments: Any manual adjustments made to the account.

  • Revenue Shares: Income shared with partners or affiliates.

Expenses Section

The Expenses section provides a breakdown of Gross Expenses, including:

  • Fees

  • Taxes

  • Refunds
    These deductions are totaled to calculate the Gross Expenses for the period.

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Understanding the Value of a Profit & Loss Statement

A P&L Statement is a vital tool for managing and understanding your business's financial performance. It helps:

  • Assess profitability trends over time.

  • Identify areas where expenses can be reduced.

  • Support strategic planning and decision-making.

  • Prepare for tax filings and regulatory compliance.

How to Generate a Profit & Loss Statement

  1. Log in to your platform account.

  2. Navigate to the Reports, hoover over Dashboards and select Profit & Loss Statement.

  3. Choose the desired time frame (monthly, quarterly, or annually).

  4. Apply any additional filters, if needed.

  5. Click Refresh.

To download the statement you will click on either the XLS or CSV button after generating the statement:

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This report provides actionable insights into your financial performance, enabling you to make informed business decisions.

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