Skip to main content
ID362807
Apr 17, 2019 6:31 PM UTC
Solved

Using custom Profit/Loss in Balance Sheet

I can create a custom Profit & Loss report which outputs a different 'Net Income' figure to the default report.

Is there a way to customise a Balance Sheet so that it uses the 'Profit for the year' figure from that custom PL instead of the default one?

Thanks.

MirriamMAnswer
Apr 17, 2019 8:36 PM UTC

Thanks for posting in the Community, ID362807,

 

I'm here to lend a hand with your question about reports in QuickBooks Online (QBO).

 

A Balance Sheet and Profit & Loss report contains similar information but also has some important differences which both provides a crucial analysis.

 

Basically, a Balance Sheet report shows a financial snapshot of your company, while the Profit & Loss report reveals if a company is profitable or not. Able to customise a Balance Sheet report to show the Profit for the year figure be the same on the Net Income coming from the customise Profit & Loss report, is not an option. Since your Balance Sheet report is a cumulative report that carries a beginning balance.

 

To learn more about reports, I'm attaching some helpful article that you can check:

If you have further questions in pulling up reports, please let me know. I'm always here to help. Have a great day!

View in thread

1 reply

MirriamMAnswer
Apr 17, 2019 8:36 PM UTC

Thanks for posting in the Community, ID362807,

 

I'm here to lend a hand with your question about reports in QuickBooks Online (QBO).

 

A Balance Sheet and Profit & Loss report contains similar information but also has some important differences which both provides a crucial analysis.

 

Basically, a Balance Sheet report shows a financial snapshot of your company, while the Profit & Loss report reveals if a company is profitable or not. Able to customise a Balance Sheet report to show the Profit for the year figure be the same on the Net Income coming from the customise Profit & Loss report, is not an option. Since your Balance Sheet report is a cumulative report that carries a beginning balance.

 

To learn more about reports, I'm attaching some helpful article that you can check:

If you have further questions in pulling up reports, please let me know. I'm always here to help. Have a great day!

Terms & ConditionsAccessibility statement