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Payments & Financials

How to Understand Revenue, Expenses, and Profit

Interpret collected or earned revenue, invoiced amounts, expenses, and the operating profit estimate.

Financial totals depend on the workspace accounting basis and the invoices, payments, and expense transactions recorded in Lemlii.

  1. Open the period you want to understand

    Open Financials > Analytics, choose a year, and find Money snapshot.

  2. Read the Money snapshot

    Revenue labels depend on your accounting basis:

    • Collected revenue: appears for cash accounting and reflects recorded money received for the period.
    • Earned: appears for accrual accounting and reflects the applicable earned amount for the period.
    • Invoiced: invoices issued during the period, excluding sales tax.
    • Expenses: logged expense transactions for the period, excluding sales tax.
    • Profit estimate: the applicable revenue basis minus logged expenses; it is intentionally labelled as an estimate.

  3. Review Accountant summary

    Accountant summary breaks down:

    • Revenue for the selected period.
    • Collected or tracked tax and any coverage warning.
    • Logged expenses.
    • Amounts still due.
    • The operating-profit estimate.

  4. Open the records behind a number

    1. 1.

      Select View revenue details, View issued invoices, View expenses, or View profit details.

    2. 2.

      Compare the detail list with the selected year and accounting basis.

    3. 3.

      Open the invoice, payment, or transaction that explains the unexpected amount.

    4. 4.

      Make the correction in that record, then return to Analytics.

  5. Know when a total needs caution

    Totals depend on the information recorded in Lemlii:

    • Missing expenses can make the profit estimate appear higher than reality.
    • Incomplete tax detail is labelled as estimated or incomplete.
    • Different currencies are kept separate instead of being combined.
    • Unavailable is a coverage warning, not a zero.
    • An estimate should be reviewed with the supporting invoices, payments, and transactions before it is used for a decision.

Notes

  • “Logged expenses only” means missing expenses make profit look higher than reality.
  • When tax detail is incomplete, Analytics labels collected tax as estimated or incomplete. Mixed currencies are not combined.