Skip to main content
June 25, 2020
Question

Why does the sales snapshot not equal profit and loss sales?

  • June 25, 2020
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

AlcaeusF
June 25, 2020

Thank you for posting here in the Community, @craigleech.

 

The calculation of the figures showing from the Sales and Profit and Loss sections are different. Under Sales, it calculates the gross amount and payments for a specific period.

 

For the Profit and Loss, it only excludes your total expenses from your sales and shows your net income within a particular date. To check the accuracy of the amounts, I suggest running some reports in QuickBooks.

 

You can either run Profit and Loss or Sales as a keyword in the Search box. Once done, set the Report period for each report and compare them (see screenshot below). 

 

 

Also, there are two accounting methods (cash and accrual) you can choose when running reports. I suggest selecting the right option to make sure your financial reports are correct. 

 

For additional information, I've attached an article about Profit and Loss, as well as customizing financial reports:

 

Please let me know if there is anything else I can do to help by clicking the Reply button below. Have a great weekend ahead.