Profit and loss statement

The profit and loss statement (P&L) is the report that tells you whether your business is making money or losing it. It adds up all your revenue, subtracts all your expenses, and shows you the bottom line for any time period you choose.

What it shows

A P&L breaks down into three sections:

• Revenue — everything you earned from selling firearms, ammo, accessories, services, and transfer fees
• Cost of Goods Sold (COGS) — what those products cost you from your distributors
• Operating Expenses — rent, utilities, insurance, payroll, bank fees, advertising, and everything else it costs to keep the doors open

Revenue minus COGS gives you gross profit (your margin on products). Gross profit minus operating expenses gives you net profit (what you actually take home).

Running the report

1. Go to Accounting → Reporting → Profit and Loss.
2. Set the date range — this month, last month, this quarter, this year, or a custom range.
3. The report generates immediately, showing revenue and expense lines with totals.

Reading the numbers

Here's what a simple monthly P&L might look like for a small FFL dealer:

Category	Amount
Revenue
Product Sales	$45,200
Service Income (transfers, gunsmithing)	$1,800
Total Revenue	$47,000
Cost of Goods Sold	$31,400
Gross Profit	$15,600
Operating Expenses
Rent	$2,500
Utilities	$450
Insurance	$600
Payment Processing Fees	$940
Advertising	$300
Bank Fees	$45
Total Expenses	$4,835
Net Profit	$10,765

Comparing periods

CloudFFL OS lets you compare the current period to a previous one — for example, this March vs last March, or this quarter vs last quarter. Use the comparison options at the top of the report to spot trends. Is revenue growing? Are expenses creeping up?

Exporting the report

1. With the report on screen, look for the Export or Print options (typically in the top-right area or under an actions menu).
2. Choose PDF for a clean printable version or XLSX (Excel) if your accountant wants to work with the data.