profit and loss reportas
We work on a cash basis. When we run the Profit and Loss (Cash) Report - some of the figures do not match the figures on Profit and Loss (With Last Year) and Profit and Loss statement reports? ...
Hi Kinda-Mindi
The Profit and Loss [Cash] report is a report run on a Cash basis whereas other Profit and Loss reports like the Profit and Loss [With last year] or Profit and Loss Statement would be an accrual-based report.In most cases, these reports will not likely match due to timing around dates and payments of transactions. For example, if an invoice is dated 15/08/2020 and the payment of that invoice was dated 01/09/2020, the Profit and Loss [Cash] report will show that value in September and not for August, whereas the Profit and Loss Statement will show it for August but not September.
