difference figures between Trial Balance and sales summary

googlebobby · ‎February 04, 2021

when i check the sales summary of 2020 also the trial balance of sales of income. there are a huge difference in amount. i wonder why there is so much differences? is there anything that I missed?

what I want to do is to generate the actual sales (invoices) of 2020 for audit purpose.

pls let me know how to get the right figure of sales amount.

Thanks

Bob

AlcaeusF · ‎February 04, 2021

Hi there, @googlebobby.

Welcome to the Community. I can provide some clarification about the reports in QuickBooks Online.

The Trial Balance report summarizes the debit and credit balances of each account on your chart of accounts. Sales summary shows your total sales from transactions like invoices and sales receipts.

These two reports have a different sources and targets. If you want to generate the actual sales from last year, you can run the Transaction Detail by Account report.

You have the option to filter all income accounts and change the date range to the prior year. Here's how:

On the left navigation bar, click Reports.
Scroll down and select Transaction Detail by Account under For my accountant.
Press Customize.
Filter the date range.
Under Filter, select All Income Accounts next to Distribution Account.
Make the necessary changes.
Hit Run report.

For additional reference, I've attached a link you can use to personalize reports in QuickBooks: Customise reports in QuickBooks Online.

Fill me in if you have additional questions on creating reports in QBO. I'm always here to help. Take care always.

googlebobby · ‎February 04, 2021

hi , @AlcaeusF

thanks for your reply and I understand now.

regards,

Bobby