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Net Income on the Balance Sheet report does not match the Net Income on the Profit and Loss report

The Balance Sheet Report shows the net income for the current fiscal year and it should match the net income on the Profit and Loss Report for the current fiscal year. The most common reasons that the two amounts do not match are:

  • Balance sheet summarizes data at a specific point in time and profit and loss summarizes data  just for the selected period.
  • The dates or bases of the reports do not match or the filters are set incorrectly.
  • The Fiscal Year preference is not set properly.
  • Damaged data, although this is rare.
How to fix it





If this solution does not resolve the issue, you can read discussions and post messages and questions relating to your issue on the Intuit QuickBooks Community site for free. You can contact an agent for additional guidance. Fees may apply.

KB ID# SLN43522
5/25/2016 9:51:25 AM
QYPPRDQBKSWS07 9132 Pro 2016 cb03fe