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Level 3

Net other income calculation on P&L seems wrong

Hello,

 

Run a P&L on a period. Got this weird Net Other Income calculation:

It looks like instead of subtracting Other Expenses from Other Income I get them added.

Looks like the program is subtracting Other Expenses from Other Income, but because Other Expenses is a negative number it ends up adding them (because A - (-B) = A+B

QB_Net_other_income.jpg

 

Or am I somehow reading this report wrong?

 

Tried to run reports for different time periods - same issue.

 

Solved
Best answer October 22, 2020

Accepted Solutions
Moderator

Net other income calculation on P&L seems wrong

Hello @SGI,

 

Let me help share information about the totals of your Profit and Loss report and understand them.

 

When a negative amount of expense shows up on your report, it means that it is a made an income at some point on your transaction in that category. Say an income from the exchange rate when you have started tracking a multi-currency transaction.

 

That being said, let's consider reviewing all the transactions in the Other Expense category. You can do so by clicking the amount and it'll show you ca transaction detail report.

 

To understand it further, you can pull up the same report with a different report date range and compare them. Same as what you have stated in the initial post.

 

Additionally, you can also consider reading through the steps outlined in this helpful article for other ways to customise your report: Run a Profit and Loss report by bank account in QuickBooks Online.

 

If there's anything else that I can help with aside from this one, please let me know in the comments below. Stay safe!

View solution in original post

1 REPLY 1
Moderator

Net other income calculation on P&L seems wrong

Hello @SGI,

 

Let me help share information about the totals of your Profit and Loss report and understand them.

 

When a negative amount of expense shows up on your report, it means that it is a made an income at some point on your transaction in that category. Say an income from the exchange rate when you have started tracking a multi-currency transaction.

 

That being said, let's consider reviewing all the transactions in the Other Expense category. You can do so by clicking the amount and it'll show you ca transaction detail report.

 

To understand it further, you can pull up the same report with a different report date range and compare them. Same as what you have stated in the initial post.

 

Additionally, you can also consider reading through the steps outlined in this helpful article for other ways to customise your report: Run a Profit and Loss report by bank account in QuickBooks Online.

 

If there's anything else that I can help with aside from this one, please let me know in the comments below. Stay safe!

View solution in original post