Is a profit and loss statement the same as an income statement in Quickbooks?

Posted: 24-08-2010 | Author: admin | Category: Other - Business & Finance


My banker needs an ‘income statement’ from me, but Quickbooks doesn’t have the option of generating an ‘Income Statement’. Quickbooks does however, have the option of generating a Profit and Loss statement. Is this basically the same thing?

Category: Other - Business & Finance by admin

4 Responses to “Is a profit and loss statement the same as an income statement in Quickbooks?”

  1. cese1, on August 26th, 2010 at 5:28 pm Said:

    no its not profit u win loss statement u lose

  2. Muga Wa Kabbz, on August 28th, 2010 at 11:03 am Said:

    Yes, it’s the same thing.

  3. robin0408, on August 31st, 2010 at 12:45 pm Said:

    A year to date P&L is basically the same thing as an income statement generated by QuickBooks. Give your banker a call and verify that a P&L is what you’ll be delivering. It depends on what he’s doing with the information, but a P&L is probably what he wants (I’m guessing he’s doing quarterly taxes).

  4. James R, on September 2nd, 2010 at 5:01 am Said:

    Profit and Loss, Income Statement, both are the same….

    Like down in the south we call Coke & Pepsi: Soda….

    in the north they call it: Pop

    same thing with P&L and IS.

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