P&L Statement

[nik_lawh]

What are some best practices or preferred methods of pulling a P&L Statement? 

Thank you in advance!
Nik Lawhorn

[josh_via]

Is this topic still relevant? 
Has this been fixed by chance?

[jamied]

Unfortunately, this critical business performance data is not available in one report in Service Titan.  I've been asking for this for ages.

A relatively accurate interim p/l should be READILY accessible.  The revenue info is there, the materials info is there and if you are using timesheets and have pay and labor info entered we should be able to pull this information.  

The issues are that

1) Labor is only pulled for time on the job, not all paid time

2) Percent of labor and percent of materials is only calculated on Sales, NOT Revenue.    For a P/L we need this information based on revenue.  In Service Titan, sales is only revenue from converted estimates, not the revenue of completed jobs.   

I sincerely wish this will be fixed sooner than later.  The ability to pull an accurate interim P/L is a primary business function and that data is right there.  

[wch_alex]

First things first is to make sure you have all your pricing in your Pricebook up to date if you are trying to pull some of this info from ST. The next thing to consider is if you are using Quickbooks and if you want to use the data straight from there or from ST. If you are looking to pull the data from ST still then you might also want run a few reports on "Business Unit Performance" as well as with some other numbers off to the side showing how much it costs to have your techs or sales guys out in the field as well as material cost. So I think this really wraps back around to making sure your Pricebook is as accurate as possible otherwise if you have cost of a material different from which you actually bought the part for then you might have some numbers that are wrong, and if you have the material being used a few hundred times you can run into bigger issues for this P&L Statement.

If you really want to align everything to be perfectly pulled from ST I would recommend you stay as organized as possible otherwise you might pull numbers that are not correct. This goes for the same in QuickBooks as well, make sure you know and link up those numbers you are pulling. 

These are a few tips but I hope this helps guide you in the right direction. If this helped please leave a kudo below!

[nik_lawh]

Thank you, 
We are actually using Intacct, for some reason the new post filter's kept telling me that Intacct was a bad word and had to be removed. 😂
Thank you so much for your response!