Profit and Loss. Click on Profit and Loss (P & L) from the drop-down list to view your profit and Loss reports over any 12-month period– this report is a mirror of what is currently in XERO. In Tax Gnome the "Total Income Tax" line is added as a non-operating expense to the report.
Tax Projections Payments. Click on Tax Projections Payments from the drop-down box to view this report which will provide information that itemises Tax payable (on a dynamic basis – as XERO data is updated) and calculates the amounts that you should save each month (by month) in order to more easily pay your end of year tax obligations.
This is a forward-looking report that shows estimated profit for your organisation and projects monthly savings required to meet your tax obligations.