Can anyone tell me why The Total Business Income minus Total Expenses is auto-calculating incorrectly? It’s basic subtraction yet the program is showing the wrong answer?

Answer

Thanks for dropping by to the Community, shuswapstayandpl!

Let me help you with the income and expense calculation in QuickBooks Online.

If you're trying to run a Profit and Loss report for this, and you've manually calculated and based the amount on the Total Income minus Total Expenses. Please note that the amount for the Cost of Goods Sold is not included in the Total Income, only in the Gross Profit.

QuickBooks Online (QBO) calculates the Gross Profit minus Total Expenses and the result of it is the Profit for that particular period. This may be the reason why you're seeing it was calculated incorrectly.

In case you require further assistance, feel free to get in touch with our Care Support Team. You can reach them through this link:
  1. Go to https://help.quickbooks.intuit.com/en_CA/contact.
  2. Choose QuickBooks Online.
  3. Choose a topic, and then click Get Phone Number.

Hit comment below if you need anything else. I'm here to help you.

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IntuitAika , Community Support Specialist
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