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lizardostevens
October 27, 2019
Question

line items balances inaccurate

  • October 27, 2019
  • 1 reply
  • 0 views

Ok- so my revenue line items on my P&L do not have the correct balances of available funds. My bank balance shows an accurate balance BUT when I go to see what programs have what funds, they are totally off. Is there a way to add the accurate monetary figure to each line item, so when I run the P&L I can see what each program has to spend, and not screw up the bank balance, which is in fact accurate? 

 

Thanks! 

1 reply

IntuitLily
IntuitLily
October 27, 2019

Thanks for joining the Community, @lizardostevens.

 

Your bank account balances may differ from the revenue showing on your Profit and Loss report. Bank accounts are classified as Balance Sheet accounts while Profit and Loss derive from the income and expense accounts. Thus, Balance Sheet accounts don't affect it.

 

However, if the accounts on your Balance Sheet are off from your actual bank balance, there may be transactions that were not recorded in QuickBooks. You may need to view and compare them to the actual money-in transactions from the bank.

 

If there are missing transactions, you can record the money-in manually by creating an invoice or sales receipt.

 

You can check this link to learn more about the transactions reported in the Profit and Loss: Why are my income and expense transactions missing from my Profit and Loss report?

 

Should you have additional questions about this, please let me know. Cheering you to a great weekend. 

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