FAQ #: 105
Why does my Current Year Profit/Loss amount differ between my Income Statement and my Balance Sheet?
This is almost always a case of a problem in the way the formatter has been setup for one or both of the financial statements. The best way to check for this is to print out the actual format (not the financial statement itself) and to go down the Income Statement and insure that every account number listed is also included in the Multiple Account Reference Lines (type=5) that are being used to print the total current year profit or loss on the Balance Sheet. This is easier when the balance sheet is coded to add up one or more ranges but obviously gets more tedious when it is coded with individual account numbers. After doing this, check for accounts that are in the Multiple Account Reference Lines on the balance sheet (used for obtaining current year profit or loss) that were not on the income statement. These must either be removed from this section of the balance statement (if they are not a profit or loss) or added to the income statement (if they truly are a profit or loss).