Should expenses on report for Profit and Loss for a month equal the expenses on my bank register report for a given month?

Hi there, kb111,

The Profit and Loss (P&L) report shows the individual transaction of your income, expenses, and net income regardless of the bank in the register. While your bank register is another way around.

I've got it right here on my end where an expense on the Profit & Loss (P&L) report should show the same amount with one on your bank register. See the attached screenshot below for your visual guide.

Just make sure you've pulled up the same account to get the results. Let me show you how:

Open the expense account through the P&L report:

1. Go to the Reports menu.
2. Choose Company & Financial, then Profit & Loss Detail.
3. Click Customize Report, then go to Filters.
4. Filter the account, then choose the specific expense account.
   
5. Click OK.
6. Filter the date monthly, then hit Refresh.

Open the expense account through the bank register:

1. Go to the Lists menu, then choose Chart of Accounts.
2. Open the same expense account filtered above.
   
3. Filter the date monthly, then hit Refresh. 

Check out the Customize company and financial reports to learn more about getting the data based on your needs.

You can also memorize the report so you won't have to go through the customization process again.

Let me know if you need additional information, and I'm always glad to help you out.

Absolutely agree.  For example loan principal or payment on a credit card are not expenses when paid. And until an account is reconciled one cannot rule out that not all expenses or income is actually recorded

Thank you so much for your explanations!  They were very helpful!

Thank you for explaining further!  That makes more sense now.  

Thank you so much for your response.  I feel better about things now!