hello everybody in the house! pls. can manager software be used to generate income and expenditure account ? i mean instead of having profit and loss can one have income and expenditure. thanks
And the difference is?
You cannot substitute income and expenditure for profit and loss because they are different concepts. Profit or loss is the difference between income and expenditures, not different names for the same things.
Depending on what you are really asking about, perhaps you should start here: Design a chart of accounts | Manager.
It might be just changing the title of the P & L report ?
Sometimes, non-profit making organisations eg club do not publish a P & L or rather they do but they call it Income and Expenditure