Using custom Profit/Loss in Balance Sheet

Thanks for posting in the Community, ID362807,

I'm here to lend a hand with your question about reports in QuickBooks Online (QBO).

A Balance Sheet and Profit & Loss report contains similar information but also has some important differences which both provides a crucial analysis.

Basically, a Balance Sheet report shows a financial snapshot of your company, while the Profit & Loss report reveals if a company is profitable or not. Able to customise a Balance Sheet report to show the Profit for the year figure be the same on the Net Income coming from the customise Profit & Loss report, is not an option. Since your Balance Sheet report is a cumulative report that carries a beginning balance.

To learn more about reports, I'm attaching some helpful article that you can check:

• What is a Balance Sheet report?
• How to customise reports
• How to customise and modify columns on reports
• How to customise your Profit and Loss report
• Run Reports

If you have further questions in pulling up reports, please let me know. I'm always here to help. Have a great day!