To access the Profit & Loss by Tags report, go to Reports under the Financial Statements header in COUNT. This report offers insights into profitability segmented by specific tags like teams, departments, or any custom categories that you assign to transactions. It’s an invaluable tool for business owners and managers looking to understand the financial performance of different segments within their organization.
Customizable Options
The Profit & Loss by Tags report allows you to filter and customize the data in the following ways:
Date Range: Define the start and end dates to focus on a specific financial period.
Account: Choose to view data for specific categories or all of them collectively.
Tags: Select multiple tags (like "Bills," "Expense Transactions," "Income Transactions," and "Invoices") to focus on specific segments. You can check multiple tags, and the report will display each tag's transactions separately.
Currency: Choose your preferred currency for accurate reporting based on your financial records.
Report Content
The report breaks down your financial data into the following sections:
Income: Shows income sources, categorized by tag, to provide a view of revenue generated by each department or team.
Operating Expenses: Displays operational costs such as accounting fees, marketing, software, and travel expenses associated with each tag.
Cost of Goods Sold (COGS): Reflects direct costs tied to product creation or service provision, segmented by tags for detailed analysis.
Each category provides a total, making it easy to compare and assess the profitability of each tag.
What does the report help with?
This report helps you:
Analyze Departmental Performance: Determine which departments or teams are most profitable.
Allocate Resources More Effectively: By understanding each segment's profitability, you can make better decisions regarding resource distribution and budget allocations.
Identify Cost-Cutting Opportunities: Track high-expense tags and evaluate whether expenses can be reduced to improve overall profitability.
To download the report, use the Export as CSV button, making it easy to share or further analyze your data in external tools.
Pro Tip: Use Consistent Tagging across transactions for more accurate insights. When entering transactions, make sure to assign tags consistently (e.g., always tag marketing expenses under “Marketing” rather than creating multiple similar tags). This will ensure that the report shows a clean, organized view of each segment’s performance and makes it easier to spot trends over time.