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January 9, 2024
Question

My trial balance does not pick up all the sales but the profit & loss report does, the sales should be around £90k but the TB shows less than a quarter of this.

  • January 9, 2024
  • 1 reply
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I am running for the same period - 1 year and cannot work out why this is happening?

1 reply

January 9, 2024

Welcome to the Community, @mail48.

 

I'm here to share some information about trial balance and profit and loss reports in QuickBooks Online (QBO).

 

The trial balance lists all your accounts and their debit or credit balances, giving a snapshot of your company's financial position at a specific time. It ensures total debits equal total credits, revealing any recording errors. The Profit and Loss report summarizes your income and expenses over a specific period, showing your net income or loss. It helps you understand your business's financial performance.

 

I recommend customizing the report to get the specific details you need. You can also memorize it to save its current customization settings. It serves as your record and helps you quickly access it for future use.

 

I'll be around to help you if you have additional questions regarding reports in QBO. I want to make sure I've got you covered. Have a good one.