Hi there, @vvwcbod. It can be that the issue with your Balance Sheet report showing an incorrect Net Income total can be due to the fiscal year (FY) settings. Let me provide more details below.
A Balance Sheet report will always balance, and the value of the assets should always equal the combined value of the liabilities and equity. The Net Income amount reflected in the Balance Sheet covers the transactions from the first month of the Fiscal Year (FY) to the As of date of the report, and the rest of the amounts before that or after the FY ends will be reflected in the Retained Earnings account.
Since the Net Income seems to drop off, you can pull up and compare the Balance Sheet report and the Profit and Loss report. Ensure that their reporting period matches the As of date.
If the Net income amount doesn't exist, click on the Retained Earnings account. Then, compare the amounts/details in the Retained Earnings account to the Profit and Loss report to check for any possible discrepancies.
Also, ensure that they are using the same accounting method either the Cash or Accrual basis.
You can check out these articles for more details on personalizing a report in QuickBooks: Customize reports.
Once you have the perfect set of filters, click Save as so you can run the same report in the future. However, if you want to export it, you can simply click the Export icon. Here's an article for details: Save a customized report in QuickBooks Online.
Please post a reply in this thread if you have clarification about managing your financial reports in QuickBooks. The Community is always here for you.
