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GoodJuJuMikey
August 6, 2021
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Need help cleaning up profit and loss detailed report

  • August 6, 2021
  • 1 reply
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Hello, I'm looking for help on how to clean up my profit and loss detailed report.  I am using QuickBooks desktop for Mac.

When I look at my profit and loss detailed report, the revenue reflected is much higher than it should be.  There are several causes.  First is that there are two deposit entries which are reflected 8x each.  Second is that my CPA originally set up the account and entered a general journal entry for a beginning balance.  I have since gone back an entered all invoices and payments which renders the beginning balance general journal entry null and void.

All of my account balances/registers are accurate.  None of the duplicate entries mentioned above nor the general journal entry are reflected anywhere in the registers.  I would like my profit and loss detailed report to reflect accurate revenue and expenses as well.  I cannot figure out how to delete the duplicates.

 

Anyone have any ideas?  I'm sure there is an easy step but, I cannot figure it out.  

 

GoodJuJuMikey

Best answer by DebSheenD

I'm here to help get rid of those duplicate deposits, GoodJuJuMikey.

If the same thing happens, I'd suggest running the Verify and Rebuild Data utility to isolate and fix this issue.  The tool scan data issues within the company file and self-resolves them.

Here are the steps on how to Verify and Rebuild Data:
 
To verify data:

  1. Open the company file.
  2. Click the File tab at the top menu.
  3. Select Utilities.
  4. Choose Verify Data.
For rebuild data:
  1. Open the company file.
  2. Click the File tab at the top menu.
  3. Select Utilities.
  4. Choose Rebuild Data.

I've also added this article that'll help you fix data damage: Resolve Minor Data Issues with your Company File.


Additionally, I've included an article that'll help you personalize your financial reports in QuickBooks. This way, you'll be able to filter the details you'd like to see: Customize Reports in QuickBooks Desktop for Mac.

In case you'll need assistance in dealing with the financial reports, don't hesitate to get back on this thread. We're always here to help you.

1 reply

Rose-A
Rose-A
August 6, 2021

A warm welcome to the Community, GoodJuJuMikey.

 

The amounts on your Profit and Loss report may be different or overstated due to reasons like different date ranges and reporting basis.

 

If you're getting the same result, you may want to open the account register's transaction report, locate the 8 deposits and delete them from there. You can also, access the Audit Trail report to locate the duplicates. Here's how:

 

  1. From the Reports menu, select Accountant & Taxes.
  2. Choose Audit Trail.
  3. Filter the report to Deposits. This will show all the deposit transactions.
  4. Find and locate the 8 deposits and delete them from there.

 

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 want to make sure I've got you covered so please get back to me if you have any other concerns. I'd love to help. Have a good one.

G
GoodJuJuMikeyAuthor
August 6, 2021

Thank you Rose-A,
Thank you so much for your help!

Unfortunately I'm not sure if the solutions you offered are going to straighten things out for me.

When reviewing my P&L Detail report, I am looking at "all dates".  Our company is about a year old so there aren't too many transactions I need to sort through. For the time being I am looking at "all dates" to make sure everything is correct.  I attached an image so that you can see the 8x duplication on deposits for Yam Westgate and Community Capital.

As far as deleting the duplicated entries from the register, they don't show up in the register.  I can't find them in the audit trail either.  The only place I see them in on the P&L detail report.

D
DebSheenDAnswer
August 7, 2021

I'm here to help get rid of those duplicate deposits, GoodJuJuMikey.

If the same thing happens, I'd suggest running the Verify and Rebuild Data utility to isolate and fix this issue.  The tool scan data issues within the company file and self-resolves them.

Here are the steps on how to Verify and Rebuild Data:
 
To verify data:

  1. Open the company file.
  2. Click the File tab at the top menu.
  3. Select Utilities.
  4. Choose Verify Data.
For rebuild data:
  1. Open the company file.
  2. Click the File tab at the top menu.
  3. Select Utilities.
  4. Choose Rebuild Data.

I've also added this article that'll help you fix data damage: Resolve Minor Data Issues with your Company File.


Additionally, I've included an article that'll help you personalize your financial reports in QuickBooks. This way, you'll be able to filter the details you'd like to see: Customize Reports in QuickBooks Desktop for Mac.

In case you'll need assistance in dealing with the financial reports, don't hesitate to get back on this thread. We're always here to help you.

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