QuickBooksHelpIntuit
Chart of Accounts doesn't show income and expense totals in QuickBooks Online
by Intuit• Updated 2 months ago
In the Chart of Accounts, the balances in the Asset, Liability, and Equity accounts are running total balances, which means they will remain in those accounts regardless of the date. The Income and Expense accounts, are cleared every financial year and the amounts transferred to the Retained Earnings account.
Because they vary according to the date range, they are not displayed in those accounts. Instead, they are displayed on the Profit and Loss report, where you can control the date range. You can access the Profit and Loss report directly from the Reports menu.
Sign in now for personalized help
See articles customized for your product and join our large community of QuickBooks users.
More like this
- Learn about account types and detail types in QuickBooks Onlineby QuickBooks•179•Updated June 21, 2024
- Learn the difference between bills, cheques, and expenses in QuickBooks Onlineby QuickBooks•200•Updated May 16, 2024
- Add an account to your chart of accounts in QuickBooks Onlineby QuickBooks•39•Updated 1 day ago
- Customise invoices, quotes, and sales receipts in QuickBooks Onlineby QuickBooks•357•Updated 3 weeks ago