Profit and Loss Statement
![Profit and Loss Statement 1 profit and loss](https://tallygraphs.com/wp-content/uploads/2022/05/profitandloss-1024x520.png)
Profit and Loss Statement in Tally
Profit and Loss Account or Income Statement is a periodic statement, which shows the net result of business operations for a specified period. All the expenses incurred and incomes earned during the reporting period are recorded in the Profit and Loss Account or Income and Expenditure account