Profit and Loss Statement

The Profit and Loss Statement in Wafeq helps you track your business performance accurately by showing revenues, costs, and operating expenses over a defined period so you know exactly how much profit or loss your business has made.

In this guide, we walk you through how to access the report and highlight key features that help you read and analyze your financial data.

Why is this report important?

The Profit and Loss Statement helps you:

1. Measure the actual financial performance of your business for a specific period (monthly, quarterly, or annually).

2. Analyze the relationship between income and costs to identify areas of profit or loss.

3. Support operational decisions such as reducing expenses or adjusting pricing strategies.

4. Provide ready-to-share financial summaries for investors or funding partners.

Reports Interface Details

The Reports interface has been redesigned with greater accuracy and organization to provide a more efficient and flexible reporting experience, making it easier to access, review, and analyze your business data based on your operational needs.

Available Features in the Reports Interface:

• Pin Reports Feature:
  You can pin your most important or frequently used reports by clicking on the “Pin” option, allowing them to appear at the top of the Reports page for quicker access without needing to search through all reports each time. You can also unpin reports at any time by clicking the same option again.

• Summary or Detailed View:
  When selecting a report, you can choose how you would like the data to be displayed:

  1 - Summary View to display key information such as accounts and amounts.

  2 - Detailed View to access more in-depth information such as customers, notes, or any additional details added to your transactions.
  This feature helps you analyze your data with the level of detail that best suits your needs.

• Reports Categorization:
  Reports are organized into clear categories to help you quickly find the right report based on the type of information you need, such as reports related to cost centers, projects, and other classifications.
  This organization saves time and effort while providing more accurate and structured reporting insights.
   

How to view and understand the Profit and Loss Statement in Wafeq

To view the report:

Go to the “Reports” section in the main menu, Click on “Profit and Loss” under the “Financial Reports” section.

You’ll see a detailed summary of revenues, costs, and expenses for the selected period. 

You may sometimes need to quickly understand what’s behind a number while reviewing your Profit and Loss report.
Simply hover your mouse over any number in the report, and a box will appear showing:

• The top 5 transactions contributing to that number

• The date of each transaction

• Its description

• Its amount

This gives you an instant explanation without needing to open the full transactions page.

You can also perform the following actions directly from the top of the report:

• Switch between monthly or yearly views

• Select or enter a custom date range

• Choose the reporting currency

• Filter results by supplier, customer, branch, project, or cost center

• Export the report as a PDF or Excel file