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December 22, 2023
Question

Will a journal entry changes between accounts show up in a profit and loss report?

  • December 22, 2023
  • 2 replies
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I used a journal entry to change a deposit from one account to another but the change does not appear on the profit and loss report. Why not?

2 replies

December 22, 2023

I know a way to see the changes you've made, williamhedges.

 

Regarding whether the journal entry changes between accounts show up in a profit and loss report, yes it will. These changes will affect the income or expense accounts. 

 

The possible reason why you're unable to find the changes you've is that you may have used a liability, asset, or bank account in your Journal Entry. If so, this will be reflected in the Balance Sheet instead of in the Profit and Loss (P&L) report.

 

For further information regarding balance sheet and profit and loss, you may want to consider looking at this blog: Balance sheet vs. profit and loss statement: What’s the difference?

 

You may want to run a report after finalizing the data in your journal entries. You can also customize your reports to see any specific reports. 

 

If you need further assistance or information regarding journalizing, please let me know by leaving a message in the comment section. The Community is always here to help you.

Rainflurry
December 23, 2023

@williamhedges 

 

A transfer from one bank account to another has no impact on your income, it is simply a transfer of assets from one asset account to another.  Assets are shown on your balance sheet, not your P&L.  And, you didn't earn income or incur an expense when you transferred funds from one account to another.