Generate Profit & Loss Reports in Odoo 18
For any business, knowing whether you’re making money or not comes down to one key financial statement — the Profit & Loss (P&L) Report.
The good news? With Odoo 18 Accounting, generating a Profit & Loss Report is not only simple but also highly customizable. It lets you track revenues, expenses, and net profits in real-time so you can make smarter business decisions.
In this blog, we’ll explain step-by-step how to generate Profit & Loss Reports in Odoo 18, along with a few tips to customize and analyze them effectively.
What is a Profit & Loss Report in Odoo 18?
The Profit & Loss Report (also called the Income Statement) shows:
- Total Revenues (sales, services, income)
- Total Expenses (purchases, salaries, rent, etc.)
- Net Profit or Loss (Revenue – Expenses)
In Odoo 18, the P&L report is fully integrated with your Sales, Purchases, Inventory, and Accounting modules. This means you don’t need to manually calculate anything — Odoo does it for you.
Note: The UI (User Interface) in Odoo 18 may look slightly different depending on your edition (Community or Enterprise) and any customizations your company has made. However, the steps to generate a Profit & Loss Report remain the same across versions.
Step 1: Go to the Accounting Module
- From the Odoo 18 dashboard, open the Accounting app.
- On the left-hand menu, click on Reports.
- Select Profit and Loss from the available financial reports.
This will instantly open the default Profit & Loss Report for your company.
Step 2: Select the Date Range
By default, Odoo shows the P&L for the current month or year (depending on your settings).
- Use the date filter at the top to select:
- This Month
- This Quarter
- This Year
- Custom Date Range
- This Month
Example: If you want to see P&L for the last financial year, simply choose Custom → 1st April 2023 to 31st March 2024 (or based on your region’s FY).
Step 3: Review Report Structure
The Profit & Loss Report in Odoo 18 is neatly structured:
- Income → Sales revenue, service income, other incomes.
- Cost of Goods Sold (COGS) → Direct expenses like purchase of raw materials.
- Gross Profit → Income – COGS.
- Operating Expenses → Salaries, rent, utilities, marketing, etc.
- Net Profit/Loss → Gross Profit – Operating Expenses.
Odoo automatically pulls all journal entries, invoices, and expenses into these categories.
Step 4: Drill Down into Details
One of the best features of Odoo 18 is the drill-down capability:
- Click on any amount in the report (e.g., “Sales Revenue” or “Rent Expense”).
- Odoo shows you the underlying journal items, invoices, or bills that make up that figure.
Example: If you see a high “Marketing Expense,” click it → you’ll see all vendor bills and payments linked to marketing.
Step 5: Compare with Previous Periods
Odoo 18 allows you to compare reports easily:
- Click the Comparison option at the top.
- Choose Previous Period or Previous Year.
- Odoo adds a new column showing changes (increase/decrease) in revenue and expenses.
Example: Compare Q1 2024 with Q1 2023 to check if your profit margins are improving.
Step 6: Export or Share the Report
Once you’re satisfied with your P&L Report:
- Click Export (XLSX or PDF) to download.
- Click Print for physical records.
- Or share directly via Email / Odoo Portal with your accountant or management team.
With multi-company support, you can generate separate P&L reports for each company or a consolidated report.
Final Thoughts
The Profit & Loss Report in Odoo 18 is a powerful tool to track business performance. With just a few clicks, you can generate accurate financial reports, analyze expenses, compare periods, and make informed business decisions.
If you’re already using Odoo 18, start using the P&L report today to keep your business financially healthy and future-ready.
Odiware can implement and tailor Odoo Accounts to your exact requirements —forms, automations, vendor management , reports, approvals, you name it.
Contact Odiware
📧 sales@odiware.com
🌐 https://www.odiware.com
