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jerseyshoretax
Level 3

QB's Self employed Tax Summary doesn't agree to Profit and Loss for same period. Transactions missing from certain accounts...anyone else with this issue?

 
Solved
Best answer March 22, 2020

Best Answers
MarsStephanieL
QuickBooks Team

QB's Self employed Tax Summary doesn't agree to Profit and Loss for same period. Transactions missing from certain accounts...anyone else with this issue?

Tax Summary and Profit and Loss has a slight difference, jerseyshoretax.

 

Let me give you more information about this. The Tax Summary includes the Annual Type of transactions. However, Profit and Loss report has the Schedule C expense related transactions and its income.

 

You can check this article for more information: The (Almost) Ultimate Guide to Self-Employed Expenses and Tax Deductions.

 

Loop me in if you have any questions about this. I'm ready to back you up. Take care.

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4 Comments 4
MarsStephanieL
QuickBooks Team

QB's Self employed Tax Summary doesn't agree to Profit and Loss for same period. Transactions missing from certain accounts...anyone else with this issue?

Tax Summary and Profit and Loss has a slight difference, jerseyshoretax.

 

Let me give you more information about this. The Tax Summary includes the Annual Type of transactions. However, Profit and Loss report has the Schedule C expense related transactions and its income.

 

You can check this article for more information: The (Almost) Ultimate Guide to Self-Employed Expenses and Tax Deductions.

 

Loop me in if you have any questions about this. I'm ready to back you up. Take care.

jerseyshoretax
Level 3

QB's Self employed Tax Summary doesn't agree to Profit and Loss for same period. Transactions missing from certain accounts...anyone else with this issue?

Thanks so so much!  Makes perfect sense!

RS06
Active Member

QB's Self employed Tax Summary doesn't agree to Profit and Loss for same period. Transactions missing from certain accounts...anyone else with this issue?

The answer doesn’t relate to UK tax.  Doesn’t help me 

GeorgiaC
QuickBooks Team

QB's Self employed Tax Summary doesn't agree to Profit and Loss for same period. Transactions missing from certain accounts...anyone else with this issue?

Hi RS06, thanks for joining this thread - please reach our chat support on this link for support with this - they'll have the tools to screen-share and view reports to check for any discrepancies. 🙂

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