Accounting: Profit and loss report
> **Language tip:** Profit and loss statement is also referred to as **income statement** under US GAAP (Generally Accepted Accounting Principles). ## Overview The purpose of a profit and loss report is to present the financial performance of a company over a specified time period. A profit and loss report shows a company's total income and expenses for a specified period of time and whether a profit or loss has been made. > **Profit and loss or balance sheet?** > Profit and loss reports summarise the total revenue, expenses, and profit or loss over a specified time period. A balance sheet report presents all assets, liability, and equity for a given date. **Structure of this report** This report will reflect the structure and line descriptions that the business has set in their own accounting software. **History** By default, Codat pulls (up to) 24 months of profit and loss history for a company. You can adjust this to fetch more history, where available, by updating the `monthsToSync` value for `profitAndLoss` on the [data type settings endpoint](https://docs.codat.io/lending-api#/operations/post-profile-syncSettings). **Want to pull this in a standardised structure?** Our [Enhanced Financials](https://docs.codat.io/lending/features/financial-statements-overview) endpoints provide the same report under standardized headings, allowing you to pull it in the same format for all of your business customers.
Unified_API
{
"$schema": "https://json-schema.org/draft/2020-12/schema",
"$id": "#/components/schemas/AccountingProfitAndLossReport",
"title": "Accounting: Profit and loss report",
"description": "> **Language tip:** Profit and loss statement is also referred to as **income statement** under US GAAP (Generally Accepted Accounting Principles).\n\n## Overview\n\nThe purpose of a profit and loss report is to present the financial performance of a company over a specified time period.\n\nA profit and loss report shows a company's total income and expenses for a specified period of time and whether a profit or loss has been made.\n\n> **Profit and loss or balance sheet?** \n> Profit and loss reports summarise the total revenue, expenses, and profit or loss over a specified time period. A balance sheet report presents all assets, liability, and equity for a given date.\n\n\n**Structure of this report** \nThis report will reflect the structure and line descriptions that the business has set in their own accounting software.\n\n**History** \nBy default, Codat pulls (up to) 24 months of profit and loss history for a company. You can adjust this to fetch more history, where available, by updating the `monthsToSync` value for `profitAndLoss` on the [data type settings endpoint](https://docs.codat.io/lending-api#/operations/post-profile-syncSettings).\n\n**Want to pull this in a standardised structure?** \nOur [Enhanced Financials](https://docs.codat.io/lending/features/financial-statements-overview) endpoints provide the same report under standardized headings, allowing you to pull it in the same format for all of your business customers.",
"type": "object",
"properties": {
"reports": {
"type": "array",
"description": "An array of profit and loss reports.",
"items": {
"$ref": "#/components/schemas/AccountingProfitAndLossReport/definitions/profitAndLossReport"
}
},
"reportBasis": {
"$ref": "#/components/schemas/AccountingProfitAndLossReport/definitions/reportBasis"
},
"currency": {
"type": "string",
"description": "Base currency of the company in which the profit and loss report is presented."
},
"mostRecentAvailableMonth": {
"$ref": "#/components/schemas/DateTime",
"description": "Most recent available monthly report data."
},
"earliestAvailableMonth": {
"$ref": "#/components/schemas/DateTime",
"description": "Earliest available monthly report data."
}
},
"required": [
"reports",
"reportBasis"
],
"definitions": {
"reportBasis": {
"enum": [
"Unknown",
"Accrual",
"Cash"
],
"type": "string",
"description": "The basis of a report."
},
"profitAndLossReport": {
"type": "object",
"additionalProperties": false,
"properties": {
"fromDate": {
"$ref": "#/components/schemas/DateTime",
"description": "Date from which the report data begins."
},
"toDate": {
"$ref": "#/components/schemas/DateTime",
"description": "Date on which the report data ends."
},
"income": {
"$ref": "#/components/schemas/ReportLine",
"description": "ReportLine items for income in the given date range."
},
"costOfSales": {
"$ref": "#/components/schemas/ReportLine",
"description": "ReportLine items for cost of sales in the given date range."
},
"grossProfit": {
"type": "number",
"format": "decimal",
"description": "Gross profit of the company in the given date range."
},
"expenses": {
"$ref": "#/components/schemas/ReportLine",
"description": "ReportLine items for expenses in the given date range."
},
"netOperatingProfit": {
"type": "number",
"format": "decimal",
"description": "Net operating profit of the company in the given date range."
},
"otherExpenses": {
"$ref": "#/components/schemas/ReportLine",
"description": "ReportLine items for other expenses in the given date range."
},
"otherIncome": {
"$ref": "#/components/schemas/ReportLine",
"description": "ReportLine items for other income in the given date range."
},
"netOtherIncome": {
"type": "number",
"format": "decimal",
"description": "Net other income of the company in the given date range."
},
"netProfit": {
"type": "number",
"format": "decimal",
"description": "Net profit of the company in the given date range."
}
},
"required": [
"grossProfit",
"netOperatingProfit",
"netOtherIncome",
"netProfit"
]
}
}
}