• The Trial Balance report shows significantly lower sales figures compared to the Profit & Loss report for the same period.

Thanks for taking the time to review your transactions, debbiecox, as this is a significant step toward ensuring your sales figures match across reports. Another factor we'll need to check is the accounting method. I’ll guide you through the details below.

Accounting methods, such as cash and accrual, determine how income and expenses are reflected in QuickBooks Online. The cash method records income for both completed and pending transactions. The accrual method, on the other hand, tracks income only after transactions are fully completed.

With that said, there's a great possibility your Trial Balance is set to cash while the Profit and Loss is set to accrual. This difference can explain why the sales amount is lower in Trial Balance than the other.

To get it fixed, refer to these steps to make sure you've used the same accounting method:

1. Select Reports, then Standard reports.
2. Use the Search field to locate and open the report.
3. Once launched, here are screenshots to help you find the Accounting method option depending on your view:

In Classic View:

In Modern View:

To prevent going through the same customisation process again, consider memorising your reports for easy access in the future. You may also send them via email at your preferred frequency.

We're always ready to assist you with other queries when running reports or other QuickBooks Online-related concerns. You can tag us with your reply in this thread to notify us in the Community whenever you need a hand.

That was my first thought - I’ve tried them on both cash accounting and accrual but still getting the same results 🤷‍:female_sign:. 

Aside from ensuring that the accounting method for both reports is the same, you'll have to make sure to select the correct Report period for both reports to appear with the same sales amount, Debbie.

To view the correct figures in the Trial Balance report, click on the account (see screenshot A). This will display the accurate total amount as shown in the screenshot below (screenshot B):

Screenshot A

Screenshot B

 

Similarly, after you run the Profit & Loss report and click the account highlighted in neon box (screenshot C), you'll see the same total amount as the Trial Balance report (screenshot D).

Screenshot C

Screenshot D

Please know that the screenshots provided may be in the US version but it works the same way as the UK region.

To give you more information on the accounting method used in QuickBooks, check this out: Learn Common Accounting Terms.

On top of that, QuickBooks Online (QBO) offers the flexibility to generate reports that provide valuable insights into your business. You may to export these reports to Excel if you'd like to work with them outside: Export Your Reports To Excel from QuickBooks Online.

If you have any questions about any of your financial reports and how they are displayed, let us know. The Community team is always available to help you anytime.