Guide
How to Review a Profit and Loss for Accuracy
November 9, 2026 · 1 min read
This guide explains how to ensure the accuracy of a Profit and Loss statement using FlowLedger's features without altering QuickBooks data.
Understanding the Basics
To accurately review a Profit and Loss (P&L) statement, start by understanding the underlying financial movements. FlowLedger provides a read-only layer over QuickBooks, allowing you to examine transactions without modifying them.
Using Money Truth Reports
Money Truth reports compare your QuickBooks data against an independent second source. These reports highlight any leftover dollars that have not been accounted for, indicating discrepancies in your records.
Evaluating Book Integrity
Book Integrity helps identify structural issues within your QuickBooks file. This includes detecting duplicate entries, unexplained opening equity, and stale open items. Each issue is recorded and can be inspected individually.
Reconciliation Workspace
The reconciliation workspace allows you to pair each transaction with a corresponding entry from a second source. This process helps ensure that all movements are correctly matched and accounted for.
Cash and Forecast
Use Cash and Forecast to build a near-term cash flow projection based on stored daily movements, open invoices, and open bills. This tool helps you plan future financial activities based on existing data.
Settlements
Settlements reconstruct ecommerce payouts by separating fees and sales components. This ensures that each deposit is accurately matched to its corresponding payout, maintaining the integrity of your financial records.
Run it on your own file. Connect QuickBooks and one real source, and see the leftover in dollars. When the evidence is not there, FlowLedger leaves the field blank.
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