On the Dashboard Profit & Loss Widget it shows a % difference over the previous year. What is it calculating to get that %

Hello there, Paul. I'm here to provide you with some information about the percentage difference that is displayed on your Dashboard Profit and Loss Widget.

The widget in QuickBooks Online (QBO) provides you with an overview of your net profit over time, along with your total income and expenses. The percentage difference shown in the Dashboard Profit and Loss Widget compares the current year's net profit with the previous year's net profit.

For instance, the Net Profit for 2024 is $20,227 and it decreased by 28% from the previous year's profit, this means that the Net Profit for 2023 was 28% higher than that of 2024. Based on this percentage, your business was less profitable this year compared to the previous year.

To learn more about the profit and loss widget, here's how you do it:

1. Go to Dashboard.
2. Click Ellipsis (three dots).
3. Select About Widget.

In addition, you can check out this article that'll guide your cash flow is being calculated: How QuickBooks Online calculates your cash flow.

Please know that I'm just a reply away if you need any further assistance with your QuickBooks Online. Have a nice day.

Hello,

I have noticed a defect, where it is calculating the percentage difference incorrectly on the widget.  The report is correct, when you look at the report.  However, on the widget it is making up a percentage that is off.  I even looked at both accounting methods and still have no idea where it is coming up with the percentage for This year to date vs last fiscal year to date.

Kara

The discrepancy between the percentage displayed on your Profit & Loss widget and your report is likely caused by misaligned date ranges, Kara.

Since you mentioned that the reports you generated display the correct percentages and data, but the widget on your dashboard shows a discrepancy, please know that this issue occurs when the widget is set to a different date range than the one used in the report.

By default, the Profit & Loss widget displays data for the Last 30 Days, which could lead to the percentages not matching your report. Since you've specifically pulled up This Year to Date vs Last Fiscal Year to Date in your report, you need to ensure the widget is also set to This fiscal year to date for accurate comparisons. Here's how you can update it:

1. Open your QuickBooks account.
2. Navigate to the Dashboard, then select Home.
3. Locate the Profit & Loss widget.
4. Click the dropdown that says Last 30 Days.
5. From the dropdown menu, choose the appropriate date range, such as This Fiscal Year to Date.

Once you've updated the date range, the widget will refresh automatically and display the correct percentage change, showing you how much your net profit has changed compared to the prior period.

If the widget still displays inaccurate data after adjusting the date range, I suggest refreshing the page or logging out and back into your QuickBooks account. At the same time, ensure all imported bank transactions have been properly categorized. Uncategorized entries can prevent it from showing the most updated information.

You can also check the Completeness Meter, which will show you how many transactions have been categorized.

I'll also include this article to help you with saving personalized reports in QuickBooks: Save a customized report.

You're free to reply to this post if you have other concerns about this.