Read your profit and loss

The profit and loss is a management statement computed live from your orders, documents, costs and payments. It is for you to run the business by. It is not a tax return, and Keelvy does not file taxes.

Open Finance & team → Profit & loss. It shows costs and margins, so it is limited to admins and bookkeepers.

Choose what you are reading

Use the controls above the statement:

Period: 1M, 3M, 6M, 12M, YTD or Custom with From and To.
Basis: how a sale is dated.
- Management, when sold: orders confirmed or later, dated by the day the order was placed.
- Accrual, when invoiced or shipped: an order with an invoice counts on the day the invoice was issued, and one with no invoice counts on the day it shipped.
- Cash, when received: customer money received in the period, net of refunds.
Entity: All entities, or one of your companies. A company opens on the accounting method it declared. See Close the books.
Brand and Currency.
Breakdown by: Brand, Sales channel or Category.

Money is never converted. A row in another currency is left out, and the statement says which, so switch the currency to see it.

The statement

The statement runs from Revenue through Gross profit, Operating expenses and Operating profit to Net profit after tax. Revenue is net of tax recorded on the order lines and of order discounts. Each line says what is inside it. Some you will meet:

COGS: the cost recorded when the goods left stock, under your cost method (moving average or FIFO), including materials, direct labor and machine time. A returned unit comes off on the day it came back.
Commission: what agents, consignees and marketplaces kept. See Track commissions.
Shipping paid: what you pay carriers for the labels you create.
Channel fees: what a shop’s payment processor kept.
Payroll (gross) and Employer contributions, Overhead, Stock losses, Defect losses, Disassembly cost, Late freight and duty and Exchange differences.
Income tax: an estimate from the tax profile on the company, shown only when one company is selected. Where it cannot be worked out, the line says why (no tax regime, rate not set, exchange rate missing). In Ukraine: a company on the simplified system shows the single tax on this line, and the note explaining the single tax appears only for Ukrainian companies. A company registered elsewhere does not see it.

Each line shows a comparison with the previous period of the same length, on the same basis, currency and filters.

On the Cash basis there is no cost side: a payment carries no goods, so COGS, gross profit and the margin are not shown.

If some lines have no cost on record, the statement says how many and how much revenue they carry. That revenue is left out of the margin percentage, so the margin is not flattered.

Open the entries behind a figure

Click a line to see its source rows: date, detail, quantity and amount. In By month, click a cell to see the entries behind a line for that month.

By month shows every line per month with a total, a bar chart of revenue, expenses and net profit, and marks on months whose books are closed, months counted from go-live, and months only partly in the range. Notes for each month are listed below.

Export

Export statement to Excel and Export statement to PDF download the statement with its period, basis, currency and the same notes. Download CSV exports the month-by-month view, and the file holds every line, folded or not.

Direct margin by brand, channel or category

When you choose a Breakdown by, the statement adds the direct margin for each. It is direct margin only. Revenue and cost belong to an order line, so they split cleanly. Overhead, payroll and tax are costs of the period, not of a brand, so they are not allocated. It is not available on the Cash basis.