What is a income statement

Same as the Profit & Loss (P&L)

Welcome, @lindak1119 and thank you for coming to the QuickBooks Community for assistance. I have some insight on Income Statements to pass along.

The income statement, also called the profit and loss statement, is used to calculate profits by comparing revenue to expenses. QuickBooks generates the income statement for you in just a few clicks. Because QuickBooks tracks and organizes all of your accounting data, you can easily generate reports to see where your business stands.

For how to create an Income Statement, click here.

If you have any other questions, I'll be here to help.