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Sarath-Burri
Level 1

How to generate a profit and loss report with closing stock?

Why closing stock is not reflected in profit and loss report. Else please guide me on this. 

Solved
Best answer September 26, 2019

Best Answers
Rustler
Level 15

How to generate a profit and loss report with closing stock?

QB is perpetual inventory, there is no closing stock per se

you can get the total ending value for the year from the balance sheet dated for the last day of the year

View solution in original post

3 Comments 3
Rustler
Level 15

How to generate a profit and loss report with closing stock?

QB is perpetual inventory, there is no closing stock per se

you can get the total ending value for the year from the balance sheet dated for the last day of the year

View solution in original post

bellebeier
Level 1

How to generate a profit and loss report with closing stock?

Hi,

Quickbook online doesnt show opening stock and closing stock in profit and loss. How would my profit and loss be accurate? Pls help

 

Thank you.

Rasa-LilaM
QuickBooks Team

How to generate a profit and loss report with closing stock?

Thanks for joining this thread, bellebeier.


I recognize the importance of knowing the profitability of your stocks. This will help in identifying the business performance and accuracy of your Profit and Loss Report. Let me share an alternative solution to get the opening stock and closing stock data.


As mentioned by @Rustler, run the Balance Sheet Report to know the opening and closing stock. For the starting value, we’ll have to set the reporting period to January 1. Then, December 31 to get the ending value. I’m here to help and make sure the process is a breeze for you.

 

  1. In your company, tap the Reports menu on the left panel and enter Balance Sheet in the field box.
  2. Click the Report period drop-down and set the correct date range. For example, Custom (January 1).stock.png
  3. If you wish to add more details, press the Customize button in the upper right.
  4. Once done, hit Run Report to view the changes.

 

Let me share this article to get helpful insights on the items you buy and sell. It also contains a list of reports that will show the data you need including what’s on hand, the cost of goods, etc: Use reports to see your sales and inventory status.


If there’s anything else I can help you with, feel free to post a comment below. I’ll be more than happy to lend a helping hand. Wishing your business continued success.