Skip to main content
C
carmg
January 17, 2024
Question

P&L for the month versus YTD Differences:

  • January 17, 2024
  • 2 replies
  • 0 views

Hello All 

When I run the P&L cash basis, my net ordinary income is a positive number for the month but my YTD actual is a negative number. How is this possible? Do I need to fix my file? 

2 replies

C
Carneil_C
January 17, 2024

Glad to see you here in the Community, @carmg.

 

I'm here to share some insights with amount differences of your reports in QuickBooks Desktop.

 

I recognize that having this kind of report can help you manage your business seamlessly. You'll want to run a Profit and Loss YTD Comparison report so you will have an overview of your transactions that cause the negative and positive amounts. 

 

Here's how:

 

  1. Go to the Reports menu.
  2. Click Company and Financials, then choose Profit and Loss YTD Comparison report.
  3. From there, modify the report Date.
  4. Go to Customize report.
  5. You can modify the date from the Filters tab according to your needs.
  6. Hit OK to save the changes.

 

For further changes or modifications, feel free to reach out to your accountant to ensure the accuracy of your data.

 

On top of that, I've added these articles to learn how to draw information clearly and save the same report settings for future use:

 

 

I'm here to back you up if you need more assistance modifying your reports in QBDT. Keep safe always.

C
carmgAuthor
January 27, 2024

Hi Carnil, 

I had an account review my file and there is nothing wrong with it but the P & L YTD comparison still gives me the same numbers. So if I run the  P&L budget performance for each month, Add all the net ordinary income together, my YTD total is different from what quickbooks says my YTD total is. It should be the same right?

I ran file doctor and there is nothing wrong with my file.

Rainflurry
Rainflurry
January 27, 2024

@carmg 

 

"When I run the P&L cash basis, my net ordinary income is a positive number for the month but my YTD actual is a negative number. How is this possible?"

 

Your Jan. - Nov. cash basis net income must be -$52,820.  When you add your Dec. net income of $39,227, you Jan. - Dec. net income is -$13,593 (-52,820 + 39,227).  

Terms & ConditionsAccessibility statement