Forum Discussion

Angie_2000's avatar
Experienced Cover User
4 months ago

Profit and Loss statement

When I run a profit and loss report, payments made for liabilities (lease/loan payments) do not appear. These particular accounts are 2- accounts (long term liabilities).  Is there a way the loan r...
  • gavin12345's avatar
    4 months ago

    Hi Angie_2000 


    Suggest you discuss this with your accountant. Loan repayments don't normally appear on a P&L statement, only the interest component and this is usually posted by way of a general journal are end of month or end of year.


    Whether P&L is on accrual or cash basis is not usually a factor.