P and Loss not match sales register

Question

I am new to AccountRight and trying Clearwater in MYOB. When I use the Profit and Loss report (accrual), sales figures not matching the sales and purchase figures in the sales and purchase register. Profit and Loss report only displayed the sales I entered and didn't show other sales and purchase that have exsited in the Clearwater file (sales and purchaseregister). Could anyone help to resolve this issue? Thanks

Steven_M · Accepted Answer

Hi @PeterApeirogon

Generally speaking, the Profit and Loss report will not always agree with the Sale (and Purchase) Register totals. This is due to what information the reports are looking at. The Profit and Loss is looking at all transactions recorded on an account level, whereas the Sales Register is only looking at the total for sale transactions.

For example, say you recorded an invoice to an income account for $110 inclusive of GST, the Sales Register would likely show $110 whereas the Profit and Loss would show $100 as that is going to the income account ($10 to GST).  Another example where it would not balance would be if you recorded a Receive Money transaction to an income account, as this hasn't been recorded via the Sales module it would not be shown in the Sales Register but would be impacting an income account.

Clearwater is an interesting case as well. Due to the way that the transactions are actually entered into the company file and its purpose, they can not be shown on some reports and therefore the information can be skewered based on that.  In saying that, with the exception of the above examples I wouldn't expect a "real" company file to have the same situation.