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Trading Reports
In these report, generally calculation being to get gross profit and gross loss for further calculation of net profit and loss for organization or firm in accounting reports.
In this report automatically calculated profit made strictly based on trading activities (like buying and selling).
In the trading account the cost of goods sold is subtracted from Net Sales for the period to calculate Gross Profit.
Cost of Goods Sold - value of the goods sold at cost.
Net Sales - actual sales made after all adjustments have been made for goods returned.
Gross Profit - it is excess of Net Sales over Cost of Goods Sold.
Gross Loss - it is the excess of Cost of goods sold over Net Sales.
For checking trading account reports in Epan -
Click on Account > Trading Menu :
You will get page :
You can check statements to related "Sales" by digging just one click.
Go further by clicking on "Sales (It is a Group Name)".
Go further by clicking on "Sales Account (It is a Ledger Name)".
Now you get transaction record of "Sales Account".
Transaction voucher detail.
After analysis of Trading Report, you got Gross Profit of 5000. Now you have to check "Profit & Loss Report". In profit and loss report net profit & loss calculation effected based on "Gross Profit or Gross Loss".