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Fusion2115
Level 1

Profit and Loss Report

When I run the Profit and Loss Report for 2020, it is showing all the unpaid invoices and also the invoices that are paid in 2021 as income. As I haven't received the money in 2020, I don't want to show that as income for last year. How do I remove these unpaid invoices and invoices that are paid in 2021 from this report so that I can show actual income in the report?

Solved
Best answer February 08, 2021

Best Answers
MarshallA
Intuit

Profit and Loss Report

Hello,

 

Sounds like you are running your Profit and Loss in ACCRUAL basis.  Change it to CASH basis and that will only show invoices that have been paid according to WHEN they were paid.

 

Accrual will show income based on when the income was generated (IE what date is on the invoice)

View solution in original post

1 Comment
MarshallA
Intuit

Profit and Loss Report

Hello,

 

Sounds like you are running your Profit and Loss in ACCRUAL basis.  Change it to CASH basis and that will only show invoices that have been paid according to WHEN they were paid.

 

Accrual will show income based on when the income was generated (IE what date is on the invoice)

View solution in original post

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