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SUSANG2
Level 1

P & L is reporting incorrect information

Our business uses QBO and we noticed that the P & L is reporting incorrect information that is different that what is entered. It hit both sides of income and expense. this affects the bottom line to EVERYTHING. Also it is very random. One Vendor invoice will be enter correctly but P & L reports it as a much lower expense. And the same on the income side. It is random and easy to miss.

 

After MANY PHONE CALLS AND MANY UNHELPFUL QB Team members, I actually spoke to someone who did not dismiss me as a "newb". Told me there is a CASE ID # [removed] and Investigation # INV-95Q44 and this has been escalated to the Engineering Team (who you can never speak to) and that they will email me with progress and resolution. Keep in mind this has been going on all year (2023) and beyond and affect our taxes at the end of the year. 

 

So there is a open case since November 2023. But I am sure there are many other user that have not caught this. 

Has anyone else experienced this?

 

susan g

1 Comment 1
Rainflurry
Level 14

P & L is reporting incorrect information

@SUSANG2 

 

I have worked with QB for almost 20 years as an accountant and I don't think I have ever seen QB report incorrectly.  It is pulling the information from somewhere so the challenge is in finding it.  You mentioned you have a vendor bill that is entered correctly but it's not hitting the P&L properly.  If that's true then we need to see the entry created by the bill and then see the same entry on the P&L. 

 

Go to the bill, click 'More' on the bottom, then click 'Transaction journal'.  The debits and credit shown on that report are what QB is using to report the effects of the bill on the P&L and/or balance sheet.  Only income accounts and expense accounts hit the P&L.  If you think the bill doesn't match what you're seeing on your P&L, please post the both the Transaction journal from the bill and the corresponding entry from your P&L so we can see the discrepancy.  Then, we can figure it out from there.       

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