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Mark299's avatar
Mark299
Experienced User
6 years ago

Profit and loss statements

Hello MYOB community I printed my profit and loss statement for the year and it showed a profit of $61K yet when I printed the profit and loss (cash) it had a different number in the overall sales, an...
  • bungy15's avatar
    6 years ago

    Hi Mark299 

     

    The P&L report is an accrual report while the P&L (cash) is a cash report so they will always be different. The accrual report includes unpaid customer and supplier invoices.  For example  - in the accrual report you have purchases of $16K, so you have entered supplier invoices to the value of $16K, but you have only paid $4K worth of invoices which is your P&L (cash) amount. 

     

    Hope this clarifies it for you

    Tracey