Angie_2000
7 months agoExperienced Cover User
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...
- 7 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.
Regards
Gavin