My business is on a cash basis. This is a P&L report question: does my P&L report, year to date, show ALL invoices (paid and unpaid) on the profit line?
I can share with you some information about running the Profit and Loss (P&L) report, @sheryl8.
The P&L report displays all of your income and expenses recorded in QuickBooks. Opening it in the cash basis gives you transactions that are occurring at the time you receive a payment or pay a bill. If an invoice is still open on the period (dates) selected, then it will never show up on the cash basis report.
To review the transactions, you can switch the accounting method from cash to accrual and vice versa. You can do it by clicking on the Cash or Accrual radio button under Accountingmethod.
I've added these screenshots for your visual references.
To learn more about running reports as well as the accounting methods, feel free to read the information from these articles: