Company & Financial reports

The Company & Financial reports are your financial statements and the analysis built on them: what the business earned (Profit & Loss), what it owns and owes (Balance Sheet), where its cash went (Statement of Cash Flows), and the management reports an accountant reads alongside them. Use them at every month-end and year-end, for your accountant and your bank, and whenever you want to know how the business is really doing.

Open them from Reports ▸ Company & Financial, or from the Company & Financial category in the Report Centre (Reports ▸ Report Centre). In the Report Centre, B opens the Balance Sheet Standard. Choosing dates, the Accrual | Cash switch, drilling down and printing work the same on every report: see Running a report, Drilling down from a report and Print, export and email a report.

The Reports ▸ Company & Financial submenu also lists, under Accounting screens, the live Profit & Loss, Balance Sheet and Cash Flow screens of the Accounting area. They show the same figures as working screens: see Profit & Loss, Balance Sheet and Statement of Cash Flows.

Which report do I want?

Where the figures come from

• The books. The Profit & Loss, Balance Sheet and Cash Flow reports read the postings in your ledger, account by account: the same figures as the Trial Balance and General Ledger. A document that has not posted to the books does not appear on them.
• Accounts and sections. Each account reports under a section by its account type in the Chart of Accounts: Income, Cost of Goods Sold, Expenses, Other Income, Other Expense on the Profit & Loss; Current Assets, Fixed Assets, Other Assets, Current Liabilities, Long Term Liabilities and Equity on the Balance Sheet. An account whose type does not match a section is placed in the main section for its kind (Income, Expenses, Current Assets, Current Liabilities or Equity) rather than left out. See Chart of Accounts.
• Sub-accounts are shown the QuickBooks way on the Profit & Loss Standard, % of Income and the Balance Sheet Standard, Prev Year Comparison and by Month: the parent as a heading, its sub-accounts under it, anything posted to the parent itself as Parent - Other, and Total Parent. Accounts with nothing in them are left out.
• Accrual or Cash. The Profit & Loss Standard, Detail, YTD Comparison, Prev Year Comparison, by Month and % of Income have the Accrual | Cash switch. On a cash basis, an invoice or bill counts on the dates its payments were made, for the share that was paid. The subtitle then ends · cash basis. Every other report here is accrual.
• Fiscal year. Year-to-date figures and the split between this year's net income and retained earnings follow the first month of your fiscal year (Edit ▸ Preferences ▸ Reports & Graphs).

Profit & Loss

Profit & Loss Standard

What it answers: your income, less the cost of what you sold and your expenses, for the period: net income (profit) or net loss. Also called the income statement.

Columns: Account, Amount.

Rows and totals: in order, Income, Cost of Goods Sold, Expenses, Other Income and Other Expense, each with its accounts (sub-accounts nested) and a Total line. A section with nothing in it is left out. After Total Cost of Goods Sold comes Gross Profit (income less cost of goods sold). Net Ordinary Income (gross profit less expenses) appears when there is other income or other expense. The last line is NET INCOME.

Drill-down: an account opens Transaction Detail by Account for that account and period: every posting behind the figure (see Accountant & Taxes reports).

Notes: No cost of sales was posted in this period, so gross profit equals income. Check the posting map if that is not expected. appears when there is income but no cost of goods sold (see Item accounts and Accounting Setup).

Related: Profit & Loss Detail lists every posting; the Balance Sheet carries this period's net income into equity; the live Profit & Loss screen shows the same figures.

Profit & Loss Detail

What it answers: every posting behind each income and expense account in the period.

Rows and totals: a heading per section (Income, Cost of Goods Sold…), under it a heading per account with its postings in date order and Total for the account, then Total for the section. The last line is NET INCOME.

On a cash basis each line is a document, dated when its money arrived, for the share that was paid.

Drill-down: a line opens its document, or its General Journal entry when there is no document.

Profit & Loss YTD Comparison

What it answers: the period beside the year to date, account by account.

Columns: Account, This period, Year to date.

Rows and totals: a heading per section with the accounts that have a figure in either column, Total per section, and NET INCOME. Sub-accounts are listed as ordinary lines.

Drill-down: an account opens Transaction Detail by Account for the period.

Profit & Loss Prev Year Comparison

What it answers: this period against the same dates last year, with the change in dollars and per cent.

Rows and totals: as the YTD Comparison, ending NET INCOME. Both columns use the same basis.

Drill-down: an account opens Transaction Detail by Account for this period.

Profit & Loss by Month

What it answers: income and expenses month by month, one column per month across the period.

Columns: Account, one column per month (for example Jan 2026), Total. The first and last months cover only the days inside the period.

Rows and totals: a heading per section with its accounts, Total per section, and NET INCOME per month and in total.

Drill-down: a month's figure opens Transaction Detail by Account for that account in that month; anywhere else on the line (the account's name, Total, or an empty month) opens the whole period.

Notes: Capped at 24 months. Narrow the range to see the rest.

Profit & Loss — % of Income

What it answers: every line of the Profit & Loss Standard as a share of total income, so costs can be compared across months and with other businesses whatever the size of the sales.

Columns: Account, Amount, % of income (the amount ÷ Total Income × 100).

Rows and totals: exactly the Profit & Loss Standard, with the percentage beside every figure, including Gross Profit and NET INCOME (your gross and net margins).

Drill-down: as the Profit & Loss Standard.

Profit & Loss by Location

What it answers: income and expense in a column per store or warehouse.

Columns: Account, one column per location, Unallocated (when needed), Total.

Rows and totals: a heading per section, its accounts, Total per section, and NET INCOME per location.

Unallocated holds postings with no document behind them, such as general journal entries and opening balances. They are part of the total.

Drill-down: a location's figure opens Transaction Detail by Account for that account at that location; anywhere else on the line (including an Unallocated figure) opens it for every location.

Profit & Loss by Class

What it answers: income and expense in a column per class (department, division or any other way you track the business).

Columns: Account, one column per class used in the period, Unassigned for postings with no class, TOTAL.

Rows and totals: Income and Expense sections with their accounts and a Total each, then Net Income per class. (Cost of goods sold is included under Expense.)

Drill-down: an account opens Transaction Detail by Account for the period.

Related: Profit & Loss Unclassified lists the postings still without a class; Classes explains how to assign them.

Profit & Loss by Job

What it answers: income and expense in a column per job (project).

Columns: Account, one column per job used in the period, Unassigned, TOTAL.

Rows and totals: as Profit & Loss by Class.

Notes: Entries with no project on them are shown under Unassigned. That is most of a normal business — overheads belong to no single job — and spreading them across jobs on a guess would make every job's profit an invention.

Drill-down: an account opens Transaction Detail by Account for the period.

Related: Job Profitability Summary and Jobs.

Profit & Loss Unclassified

What it answers: the income and expense posted with no class: the lines a business that tracks classes has to go back and code.

Columns: Account, Unclassified.

Rows and totals: Income and Expense sections (accounts alphabetical) with Total lines, then Net Income (unclassified). When classes are not in use at all, it says Classes are not set up for this company.

Drill-down: an account opens every posting to it for the period.

Income & Expense Graph

What it answers: income, expense and net income month by month, drawn as bars above the figures.

Columns: Month, Income, Expense (cost of goods sold and all expenses), Net Income. The graph draws Income and Expense for each month.

Rows and totals: one row per month, then TOTAL.

Drill-down: a month opens the Profit & Loss Standard for that month.

Income & Expenses

These four reports cut the Profit & Loss by the customer or vendor on the document behind each posting.

Income by Customer Summary

What it answers: what each customer was worth in income this period, and their share of the total.

Columns: Customer, Income, Share (per cent of all customer income).

Rows and totals: largest first, including one Walk-In Customer line for sales without a named customer, then TOTAL. Narrowed to one customer, Share is still their share of the whole period (a note says so).

Drill-down: a customer opens Income by Customer Detail for that customer.

Related: Sales by Customer Summary answers a similar question from the invoices rather than the books.

Income by Customer Detail

What it answers: every income posting behind each customer.

Columns: Date, Type (Invoice or Credit Note), Num, Account (the income account), Amount.

Rows and totals: a heading per customer, their postings in date order, Total per customer and a final TOTAL.

Drill-down: a line opens its invoice or credit memo.

Expenses by Vendor Summary

What it answers: what was spent with each vendor in the period, and their share.

Columns: Vendor, Spend, Share.

Rows and totals: largest first, then TOTAL. Only bills, vendor credits and expenses count. Cost of goods sold is posted on the sale, whose name is the customer, so it is not spend with a vendor and is not counted.

Drill-down: a vendor opens Expenses by Vendor Detail for that vendor.

Expenses by Vendor Detail

What it answers: every bill, vendor credit and expense behind each vendor.

Columns: Date, Type (Bill, Debit Note, Expense), Num, Account, Amount.

Rows and totals: a heading per vendor, their postings, Total per vendor and TOTAL.

Drill-down: a line opens its document.

Balance Sheet

Balance Sheet Standard

What it answers: what the business owns (assets), owes (liabilities) and is worth to its owners (equity) at the end of a day.

Columns: Account, Balance.

Rows and totals:

• ASSETS — Current Assets, Fixed Assets and Other Assets, each with its accounts and a Total, then TOTAL ASSETS.
• LIABILITIES & EQUITY — Current Liabilities and Long Term Liabilities with their totals, Total Liabilities, then Equity: your equity accounts, Retained Earnings (prior years) (all profit before the start of this fiscal year), Net Income (current period) (profit from the start of this fiscal year to the date), and Total Equity.
• TOTAL LIABILITIES & EQUITY, which must equal TOTAL ASSETS.

Drill-down: an account opens Transaction Detail by Account for it (on the year to date; widen its dates to see older postings). Net Income (current period) opens the Profit & Loss Standard.

If it does not balance: a note says THIS BALANCE SHEET DOES NOT BALANCE — assets exceed liabilities and equity by … Do not file from it. Run the Trial Balance to find the entry at fault., with the red bar across the report. See Trial Balance.

Balance Sheet Detail

What it answers: every posting behind each balance sheet account, with a running balance, up to the date.

Columns: Date, Type, Num, Name, Amount, Balance (running).

Rows and totals: a heading per section, a heading per account with its postings from the very first one, Total per account and per section.

Drill-down: a line opens its document or General Journal entry.

Balance Sheet by Month

What it answers: month-end balances side by side.

Columns: Account, then one column per month-end (for example 31 Jan 2026), the last being the period's end date. At most the last 12 are shown: Only the last 12 month-ends are shown. Narrow the period to see earlier ones.

Rows and totals: the Balance Sheet Standard's layout, for each date.

Drill-down: as the Balance Sheet Standard.

Balance Sheet Summary

What it answers: the balance sheet rolled up to its sections: a one-glance version.

Columns: Account, Balance.

Rows and totals: ASSETS with Current Assets, Fixed Assets, Other Assets and TOTAL ASSETS; LIABILITIES & EQUITY with Current Liabilities, Long Term Liabilities, Total Liabilities and Equity (including retained earnings and this year's net income); TOTAL LIABILITIES & EQUITY.

Drill-down: any line opens the Balance Sheet Standard.

Balance Sheet Prev Year Comparison

What it answers: the balance sheet on a date beside the same date last year, with the change.

Columns: Account, the date (for example 30 Sep 2026), the same date last year (30 Sep 2025), $ Change, % Change (blank when last year was zero).

Rows and totals: the Balance Sheet Standard's layout, for both dates.

Drill-down: as the Balance Sheet Standard.

Balance Sheet by Class

What it answers: every balance sheet account in a column per class.

Columns: Account, one column per class (alphabetical), Unclassified, TOTAL (which is the Balance Sheet Standard's figure).

Rows and totals: ASSETS, LIABILITIES and EQUITY, each with its accounts (alphabetical) and a Total. Equity includes Retained Earnings & Net Income per class. The last line is TOTAL LIABILITIES & EQUITY.

Notes: A class column balances only when every line of an entry carries the same class; QuickBooks has the same limit. Postings with no class are under Unclassified.

Drill-down: an account opens Transaction Detail by Account from 1 January of that year up to the "as of" date; Retained Earnings & Net Income opens the Profit & Loss Standard.

Net Worth Graph

What it answers: assets, liabilities and net worth at each month's end, drawn as bars above the figures.

Columns: Month, Assets, Liabilities, Net Worth (assets less liabilities). The graph draws all three.

Rows and totals: one row per month, at that month's end (or the period's end for the last month).

Drill-down: a month opens the Balance Sheet Standard as of that month's end (the date on its row).

Cash Flow

Statement of Cash Flows

What it answers: how cash moved in the period, split into operating, investing and financing activities, by the indirect method (starting from net income).

Columns: the line, Amount.

Rows and totals:

• OPERATING ACTIVITIES — Net income, then Increase in … or Decrease in … for each current asset and current liability account (other than cash) that changed: more receivables or stock uses cash, more payables provides it. Net cash from operating activities.
• INVESTING ACTIVITIES — the change in each fixed and other asset account. Net cash from investing activities.
• FINANCING ACTIVITIES — the change in each long-term liability and equity account. Net cash from financing activities.
• Net change in cash, Cash at beginning of period and Cash at end of period.

Which accounts are cash: the Cash and Bank accounts set in Accounting Setup, plus every account of the cash type. A note names them: Treated as cash: …. If none is found: No cash account is identified. Set the Cash and Bank roles in Accounting ▸ Setup, or this statement cannot reconcile.

Check: if the movement the statement works out differs from what the cash accounts actually moved, a note says DOES NOT RECONCILE: this statement derives a movement of … but the cash accounts moved by …. Usually an account has the wrong type.

Drill-down: Net income opens the Profit & Loss Standard; an account line opens Transaction Detail by Account.

Statement of Cash Flows Prev Year Comparison

What it answers: the Statement of Cash Flows for the period beside the same period last year.

Columns: the line, this period (headed with its dates), the same period last year, $ Change.

Rows and totals: the Statement of Cash Flows' lines; a line that only last year had appears just before its section's total. Each column agrees with the Statement of Cash Flows run on its own dates.

Drill-down: as the Statement of Cash Flows.

Cash Flow Forecast

What it answers: week by week, the cash you have, what customers are due to pay you, what you are due to pay vendors, and the projected balance.

Rows and totals: one row per week, then TOTAL.

Funds Flow Statement

What it answers: where the business's funds came from and where they went between two balance sheets, and the resulting change in working capital.

Columns: Particulars, At (the day before the period), At (the period's end), Amount.

Rows and totals:

• Sources of funds — Net profit for the period, and every fixed asset that fell, or long-term liability or equity account that rose (a loan taken, capital put in, an asset sold). Total sources of funds.
• Applications of funds — Net loss for the period if there was one, and every fixed asset that rose, or long-term liability or equity account that fell (an asset bought, a loan repaid, drawings). Total applications of funds.
• Increase in working capital (or Decrease).
• Schedule of changes in working capital — every current asset and current liability with its two balances and its effect (positive increased working capital), ending Increase (or Decrease) in working capital, which must equal the figure above.

Check: DOES NOT AGREE — sources less applications come to … but working capital moved by … means the balance sheet does not balance on one of the two dates; run it for each date to find which.

Drill-down: net profit or loss opens the Profit & Loss Standard for the period; an account opens Transaction Detail by Account for the period.

MIS

The management information reports an accountant reads a set of accounts by. Each is built from figures other reports already produce, so they cannot disagree.

Ratio Analysis

What it answers: the liquidity, leverage, profitability and efficiency ratios of the business, each with how it was worked out.

Columns: Measure, Ratio, Per cent, Days, Amount, Worked out as (the figures used, so any ratio can be checked by hand).

Equity includes every year's profit, whether or not a closing entry was made. Inventory is the balance of the inventory account set in Accounting Setup; without one, inventory is taken as zero and a note says the quick ratio then equals the current ratio. A blank means the ratio has nothing to divide by (no sales, no liabilities, no stock).

Drill-down: none.

Party Abstract — Customers

What it answers: for every customer with a balance or any movement, the opening balance, what was invoiced, what was received or credited, and the closing balance: a one-line-per-customer summary of their ledger (sundry debtors).

Columns: Customer, Opening balance, Invoiced, Received & credit notes, Closing balance.

Rows and totals: customers alphabetically, then TOTAL. Invoices and balances brought forward raise the balance; credit memos and payments received lower it; change handed back and refunds raise it. Drafts and held sales are not counted. A closing balance above zero is what the customer owes; below zero, they are in credit.

Drill-down: a customer opens their ledger, whose movements for the same dates agree with the line to the cent.

Party Abstract — Vendors

What it answers: the same for every vendor (sundry creditors): opening balance, billed, paid and debit notes, closing balance.

Columns: Vendor, Opening balance, Billed (received bills, expenses and balances brought forward), Paid & debit notes, Closing balance.

Rows and totals: vendors alphabetically, then TOTAL. Unreceived purchase orders do not count. A closing balance above zero is what you owe the vendor; below zero, they owe you.

Drill-down: a vendor opens their ledger.

Profitability by Customer

What it answers: what each customer's goods sold for, what they cost, and the gross profit left: party-wise profitability.

Rows and totals: most profitable first, then TOTAL. Delivery charges, tips and rounding are on no item line and are not included. A credit memo counts in the period it was issued. Goods that arrived without a purchase document (for example imported opening stock) carry no cost, so their margin reads as the full selling price.

Drill-down: a named customer opens their ledger.

Related: Gross Profit by Invoice has the same figures invoice by invoice; Sales by Item Summary item by item.

Currency

Realized Gains & Losses

What it answers: the exchange gain or loss on foreign-currency invoices and bills settled in the period, at a different rate from the one they were entered at.

Columns: Date, Type, Num, Name, Memo, Gain (Loss) (a gain positive, a loss negative).

Rows and totals: one row per posting to Exchange Gain or Loss, then TOTAL. Until anything has been settled in another currency the report says No Exchange Gain or Loss account yet: nothing has been settled in another currency.

Drill-down: a line opens its document or journal entry.

Unrealized Gains & Losses

What it answers: what your open foreign-currency invoices and bills would gain or lose if they were settled at the exchange rate on the date. Nothing is posted.

Rows and totals: Accounts Receivable and Accounts Payable sections with their totals, then TOTAL.

Notes: No rate on this date for …; enter one in Company ▸ Manage Currency. When multicurrency is not in use it says Multicurrency is not set up for this company.

Drill-down: a line opens its invoice or bill.

Related: Home Currency Adjustment and foreign currency and Currency List.

Common problems

Related articles

• Profit & Loss
• Balance Sheet
• Statement of Cash Flows
• Trial Balance
• General Ledger
• Chart of Accounts
• Reports and numbers that do not match