General Ledger Report

Forum|Forum|4 years ago
June 28, 2022
1 reply
2 views

Why is the general ledger report for last fiscal year showing my gross income as my net income.

QuickBooks Desktop

BigRedConsulting

Level 15

The General Ledger report shows detail activity - subtotaled by account. It doesn't show net or gross income.

KatconAuthor

Under the general ledger report for last fiscal year when I scroll down to the income it has listed each paycheck and the gross amount, but the report shows it categorized under E10110-Net Salary.

BigRedConsulting

Level 15

Yes, every line item of every transaction will appear on the report. Paycheck earnings items are almost always expenses, and should appear in an expense account. What type of account is "E10110-Net Salary"? The account name seems potentially appropriate, depending on what you mean by Net Salary. AFAIK, there isn't a way to track net salary with an account, as it's the sum of many other things on a paycheck, starting with gross salary and then adding in various additions and deductions.

What do you mean when you write, "scroll down to the income"?

What is the issue?

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