Difference between profit and loss revenue and GST report revenue

Hi donpaton,

Thanks for reaching out to the QuickBooks Community with your question. QuickBooks Online has various reports that are a great way to stay on top of your finances. I can explain why your Profit and Loss Report has a different total from what you see in your GST report.

When you record transactions in QuickBooks Online, you choose a Sales Tax code. Any time you choose a Sales Tax, your transaction will be recorded in the tax center, which appears in your tax reports. When you select Out-of-scope or Exempt, these transactions aren't included in the tax center. 

Your Profit and Loss Report takes the total amount of all transactions regardless of tax or transaction type. Your total revenue from your Tax report is included in your Profit and Loss, as well as all the transactions that don't include taxes.

If you have any questions about this, reach back out. Have a terrific evening!

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@Tammy_H wrote:

Hi donpaton,

 

Thanks for reaching out to the QuickBooks Community with your question. QuickBooks Online has various reports that are a great way to stay on top of your finances. I can explain why your Profit and Loss Report has a different total from what you see in your GST report. friday night funkin

 

When you record transactions in QuickBooks Online, you choose a Sales Tax code. Any time you choose a Sales Tax, your transaction will be recorded in the tax center, which appears in your tax reports. When you select Out-of-scope or Exempt, these transactions aren't included in the tax center. 

 

Your Profit and Loss Report takes the total amount of all transactions regardless of tax or transaction type. Your total revenue from your Tax report is included in your Profit and Loss, as well as all the transactions that don't include taxes.

 

If you have any questions about this, reach back out. Have a terrific evening!

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Thank you for your clear answer.

My GST report is higher by $30k than my P&L income which is the opposite of what everyone else is talking about

Hi katharine-mother,

To ensure your books remain accurate, I encourage you to contact our QuickBooks Support team at 1-855-253-1536 from Monday to Friday between the hours of 9 AM and 8 PM EST.  With your consent, they can connect with you virtually, and assist you with accomplishing your goals as soon as possible!

Reach out again, if you have other questions.  We would be glad to assist!