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isabelathea
November 20, 2024
Question

QuickBooks Report Difference

  • November 20, 2024
  • 1 reply
  • 0 views

Last week, I ran a Sales by Product/Service Summary report for last month on an accrual basis. This week I ran it again and it produced different amounts. Can someone please explain this?

 

I also noticed that a product is not in the new report which was included in the previous report.

    1 reply

    E
    Erika_KQuickBooks Team
    QuickBooks Team
    November 20, 2024

    Welcome to the QuickBooks Community forum, isabela. I understand that you're seeing discrepancies in the Sales by Product/Service Summary report, including differences in amounts for specific periods and a missing product. Let’s take a closer look at this issue together.

     

    First, ensure the report is set to the same accounting basis (Accrual or Cash) when pulling it up in specific periods. This setting can significantly impact how income is recognized and reported.

     

    Second, it’s important to identify the exact periods you’re comparing. Are the date ranges consistent between the reports? Sometimes, even a slight change in the date range can lead to significant differences in reported sales figures.  

     

    Third, let’s review any recent changes made to transactions during the time frame in question. Have any invoices, sales receipts, or product entries been modified, added, or deleted? These changes can impact the totals reported and may explain why certain figures have shifted. You can use the Audit Log feature to review any changes or activities made to your account.

     

    Finally, I’ve compiled some valuable resources that you can explore to learn more about the reports available in your version of QBO and how you can personalize your financial information:

     

     

    Addressing discrepancies in your financial reporting is essential for accurate accounting records and informed business decisions. I'm still ready to assist with any report-related concerns. Hit the Reply button and I'll circle back to lend a helping hand. 

    I
    isabelatheaAuthor
    November 20, 2024

    Hi, 

     

    I ran the same report -- Accrual, same filters. 

      L
      LouiseG12QuickBooks Team
      QuickBooks Team
      November 20, 2024

      Thank you for your prompt response, Isabela. I appreciate the screenshot you provided for better clarity. The differences in amounts between the Sales by Product/Service Summary reports could be due to changes in transactions. Let me discuss this matter with you.

       

      Here are several potential reasons why your Sales by Product/Service Summary report in QuickBooks Online (QBO) shows different amounts when run at different times, especially if you are observing differences on an accrual basis.

       

      • Transactions Added or Modified
      • Deleted transactions
      • Product/Service Changes

       

      For now, you can check your audit log to see if there are any modifications made to your transactions. If there are changes, you can edit the entry to ensure the correct information appears in the report.

       

      Moreover, check out this article for tips on customizing your reports to get the specific information you need: Customize reports in QuickBooks Online.

       

      Having correct information in the report QBO is crucial because it ensures accurate financial insights. Know that my colleagues and I are always around to assist if you require additional assistance with your reports. Have a great day!

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