Why are there differences between my BAS and Profit and Loss report?

You might see differences between the sales and purchases amounts on your BAS and Profit and Loss report for the same period for these reasons.

  • You run your BAS on the cash basis but your Profit and Loss report on the accruals basis. Change the Profit and Loss report's settings so it runs on the cash basis to compare the reports on the same basis.
  • Amounts on the BAS include GST while amounts on the Profit and Loss report exclude GST. You can see the GST-exclusive amounts for the BAS on the GST Audit Report.
  • If transactions have a BAS Excluded tax rate on an income or expense account type, they'll be excluded from the BAS and included on the Profit and Loss report. Review the GST Audit Report to see which transactions are using the BAS Excluded tax rate.
  • If transactions have a GST on Expenses tax rate but are coded to an asset, liability or equity account type, they'll be included on the BAS and excluded from the Profit and Loss report. Review the GST Audit Report to see which transactions are using the GST on Expenses tax rate.
  • If transactions have a GST on Income tax rate but are coded to an asset, liability or equity account type, they'll be included on the BAS and excluded from the Profit and Loss report. Review the GST Audit Report to see which transactions are using the GST on Income tax rate.