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userinfo93
September 9, 2021
Question

The profit and loss report for this financial year is wrong. The sales income should read a lot more than what's showing and the wages have been calculated twice. Help!

  • September 9, 2021
  • 1 reply
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Original commenter did not share additional details

1 reply

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IntuitSheila
September 9, 2021

Hi userinfo93,

 

The Profile and Loss report will show all sales transactions using an income account. You'll have to check your sales transaction and verify the account/category used. Here's how to run the report:

 

  1. Click on the Reports tab.
  2. Click on the Profit and Loss.
  3. Search Transaction Detail by Account report.
  4. Select the Report period and Accounting method.
  5. Click Run Report.

Then, compare the figures in your profit and loss report.

 

Furthermore, about the wages been calculated twice, you'll have to check the payroll journals if it was not exported twice in QuickBooks Online. You can check the payroll journals through the steps below:

 

  1. Click on Accounting tab.
  2. Click on Chart of Accounts.
  3. Locate the account like Payroll Clearing, or depends with the account you've set up in your Payroll Default Chart of Accounts.
  4. Click on Account history, double check the dates of the payroll journals.

You may want to check these article to learn more about profit and loss report and payroll journals:

 

If you're unable to check the difference, we recommend contacting the Customer Care Team as they can initiate Smartlook (screenshare session) with you to help you check the account used. 

 

You can always comment below if you need more help with QuickBooks. Have a nice day!

 

 

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userinfo93Author
September 21, 2021

Hi

Thanks for your message but this is making no sense at all.  I still have monies received into the bank account, corresponding to invoices raised but only some of them are being included in the Income amount on the Dashboard page, and only some are showing on the Sales report.  It seems as though some are listed as "invoices" and some are listed as "sales" but I have no idea why or how to get them all to be in the same category.

Hoping someone can help me sort this out & thanks in advance!

Julie

I
IntuitSheila
September 21, 2021

Hi userinfo93,

 

Appreciate the information you've provided about amount in your sales report. You'll have to check the income account for tracking the sales of your products/service. Here's how:

 

  1. Click on the Gear Icon.
  2. Click on the Products and services.
  3. Locate a product/service, then click on Edit.
  4. Check the Income account field and verify if the account used is correct.
  5. Do the same process for other product/service.
  6. Click on Save and close.

You can then run the Profit and Loss report once more to verify your sales and income figure.

 

If the issue remains, we'd recommend contacting our Customer Support Team as they can do Smartlook (screensharing) with you to help check the account used for your products/service.

 

Let me know if you need more help. Have a nice day!

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