A pleasant day to you, @holtmick0531. I have some information that's available to help you clear things up about the different financial phraseology.
When it comes to financial terminologies in QuickBooks Online (QBO), the Entity type of your company is a real deal to your accounting report title. You can locate this in the Company section from the Account and Settings tab.
If you switch it to a Nonprofit organization (Form 990), the equivalent name of a Balance Sheet is a Statement of Financial Position. While the Profit & Loss will become a Statement of Financial Activity.
Moreover, consider checking this article to make sure your report will display specific accounts or customers and the correct format: Customize reports in QuickBooks Online.
Additionally, feel free to connect with QuickBooks Live Expert Assisted to further help navigate and streamline your financial reports based on your company preferences.
This information will clarify things on your end, @holtmick0531. Let me know if you have additional inquiries about managing your financial reports and any QuickBooks-related concerns. I got you always. Have a good day!
