Our proprietary technology redraws your traditional P&L in a way that supports decision-making.  We call it a “smart” P&L and we’ve transformed your old-style Profit & Loss Statement into a power tool for managing your business.

Traditional P&L

A traditional P&L statement is a great tool for tax purposes, so we’ve included it in our Company View.

Cost Segmentation Chart

Dig into the details of your spending patterns quickly and understand the mix between people, services and goods.

Automatic account categorization

Profitably has developed deep technology to sift through a business data and find a signal in the noise automatically. The technology accounts for the idiosyncrasies of their accounting practices and cuts right to the meaningful insights without requiring months to cleanse data.

The technology is based on the work Adam has been doing for the past decade helping Fortune 500 companies (often Fortune 50) grow profitably using their massive datasets. The technology at its core simply considers everything Profitably knows about each transaction (the vendor, the financial account, the business unit, the actual item purchased) to logically determine what it dealing with. That’s why the solution would fall flat if it just pulled bank account transactions!

Recategorize any account

Profitably categorizes all your particular financial accounts (which reflect your business specifically) to our “master” chart of accounts. The good news is that we do this already automatically.

We don’t know your business as well as you, so if you want to correct an account simply drag it to the correct category.

Balance Sheet

Our balance sheet provides a quick view into where your business stands and where liabilities loom.

View customer acquisition cost, customer delivery, and overheads clearly for once!

Having all of your expenses in one long list may be great for doing taxes, but running a business requires looking at your expenses through a more focused lens.  That’s why our “smart” P&L splits your expenses up into Customer Acquisition Cost, Customer Delivery Costs and Overheads.  In other words, you can now see what it costs you to get your customers, deliver your product or service to them, and what it costs to keep your infrastructure up and running – all in one automatically generated report.

See direct and assigned costs per category

The “Smart P&L” for each customer reflects costs that are specific to that customer as well as costs assigned based on other metrics, such as “billable hours” to assign compensation or pro rata “revenue” to assign income.

Vendor Pareto graph per category

Target your efforts on the vendors that represent the lion’s share of the expense. The columns represent the total spend by vendor, across all customers. The line in the chart represents the cumulative share of the spend that those vendors represent.

View labor costs by employee

Instead of looking at labor costs as one lump sum expense, Profitably splits out these costs per employee, so you can see exactly how your resources are being allocated and spent.