The Profit & Loss A/c is a periodic statement, which shows the net result of business operations for a specified period. All the expenses incurred and incomes earned during the reporting period are recorded here.
The Profit and Loss Account in TallyPrime displays information based on the default primary groups. It is updated with every transaction/voucher that is entered and saved.
You can view the Profit & Loss account details in TallyPrime for a specified period.
You can view this:
1. Go to Gateway of Tally > Profit & Loss A/c .
2. Click F1 : Detailed to view the Profit & Loss Account in detailed format. The Profit & Loss Account appears as shown below:
The Profit & Loss Account is generated and updated immediately from the date of opening of books till the date of last entry.
3. Press F2: Period to change the period as required.
You can configure the Profit & Loss account details to view it in the required format by Pressing F12: Configure.