Why the Trial balance figures is not the same with Balance sheet and P&L?

The Trial Balance includes all accounts on one report. At the same time, the Balance Sheet only displays assets, liabilities, and equity, and the Profit and Loss report only lists your income and expenses.

To make sure your figures match up correctly across these reports, check that you have selected the same Report periods and Accounting methods (Cash or Accrual) for all three. You also want to verify that any filters you applied, like class, location, or columns, match perfectly in QuickBooks Online. 

If your total debits equal your total credits on the Trial Balance, your books are in balance.

For a deeper look at how these reports work, you can review these helpful guides:

• Balance sheet vs. profit and loss statement: What’s the difference?
• Trial balance: Definition, purpose, and example

Have more questions about your reports? Drop a reply below, and we can dig into it.