Mark299
6 years agoExperienced User
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...
- 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