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Level 1

Profit and Loss report doesn't make sense

I am trying to figure out why my profit and loss is so messed up. It says our gross profit is $150K year the total sales for the company is only $121K. It seems income for certain items is being reported in A/R while also in uncategorized income. The full amount is not in A/R just a portion from the invoices. I went in and changed a bunch of stuff and that's when it went up to $150K. It was still off before tr he changes I made. If I look at my report it says $102K in uncategorized income and $48K in A/R. I'm super confused. 

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QuickBooks Team

Profit and Loss report doesn't make sense

Hello, RMDW17.

 

The gross profit and total sales in the Profit and Loss report have different purposes. When you say gross profit, the amount displayed here is the total of all the income accounts. On the other hand, the total sales amount is limited to the income accounts which are associated with your products and services.

 

You might want to review the transactions that add up to these totals. There are probably transactions that don't belong to your income but uses an income account. If this is the case, just change the account associated with it to correct the totals in your P&L report.

 

I'll be right here if you have additional questions. Thanks for dropping by and happy New Year in advance. 

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