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userx-chima
Level 1

The revenue and cost of sales figures generated in the Trial Balance is different from that for the profit

Revenue number extracted from my trial balance is different from same revenue numbers extracted from my Profit and Loss statement, all within the same time period, what could be responsible?
1 Comment 1
Giovann_G
Moderator

The revenue and cost of sales figures generated in the Trial Balance is different from that for the profit

Let me welcome you here in the Community, userx-chima.

 

I can tell you why the Profit and Loss and Trial Balance reports provide different numbers.

 

The Trial Balance report in QuickBooks Online is set to run for a year by default, starting with the first month of the fiscal year. As a result, modifying the reporting period's date range doesn't affect the running balances. The total debit and credit reported on each general ledger total are also included in the report.

 

If you want to see the overall sales, costs, and expenses incurred for a certain period, you can run the Profit and Loss report. I'd also suggest reaching out to your accountant for other options to take. This is to ensure that your records are correct.

 

Just in case you want to run reports to show only the information needed, feel free to check out this article for more guidance: Customise reports in QuickBooks Online.

 

Stay in touch with me if there's anything else I can help with running reports. I'll be around in the Community to help you out.