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KellyWei's avatar
KellyWei
Contributing User
5 years ago

Purchase in Profit and Loss statement

Hi Experts   I have run profit and loss statements under both cash and accural methods. The purchase amount shows a big difference. I checked purchase in find transaction, the frigure there is the ...
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  • Steven_M's avatar
    Steven_M
    5 years ago

    Hi KellyWei 


    If you are in the Find Transactions window it will show you the transaction that is recorded, you would be able to click the arrow of that transaction to see the relevant transaction relating to that. If you want additional information into the accounts and amounts involved in that transaction you can recap it (Edit>>Recap transaction) or depending on the transaction view the transaction in the Transaction Journal.

     

    In terms of the Profit and Loss reporting, if it was me I would be looking at running the Account Transactions [Cash] report and comparing that with the Account Transactions [Accrual] report. These reports will show you the individual transactions against each account. If a transaction is not included on the one report but is on the other it is likely the cause of that difference.

     

     

KellyWei's avatar
KellyWei
Contributing User

thanks Steve

 

Also when I do find a transaction for 5-1000, there are some figures in credit column.

 

Wondering where are these credit figures from and what stand for? They are not pruchase returns.

 

thank you

Steven_M's avatar
Steven_M
Former Staff
5 years ago

Hi KellyWei 


If you are in the Find Transactions window it will show you the transaction that is recorded, you would be able to click the arrow of that transaction to see the relevant transaction relating to that. If you want additional information into the accounts and amounts involved in that transaction you can recap it (Edit>>Recap transaction) or depending on the transaction view the transaction in the Transaction Journal.

 

In terms of the Profit and Loss reporting, if it was me I would be looking at running the Account Transactions [Cash] report and comparing that with the Account Transactions [Accrual] report. These reports will show you the individual transactions against each account. If a transaction is not included on the one report but is on the other it is likely the cause of that difference.

 

 

  • KellyWei's avatar
    KellyWei
    Contributing User
    5 years ago

    Thanks Steven, that make sense, I will try

     

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