Profit and Loss Statement (Actual vs Budget)

Good Morning

When I pull out the profit and loss statement report from manager, I always notice that for petty cash it always displays the last transaction amount and not the actual balance.This is very confusing. Below is how appears on the profit and loss statement.

Profit and Loss Statement (Actual vs Budget)
For the period from 2019/04/01 to 2019/04/30
Actual 167
Budget 500
Percentage 33%

Below is the snapshot of how it is displayed in the Petty Cash account which is under Cash Accounts.

I don’t understand your question.

The Petty Cash account is a Balance Sheet account - usually listed under Assets/Cash and Cash Equivalents (unless you have changed the name) - and never appears in the Profit and Loss reports which only lists Income and Expenses accounts

From your screen shot, it appears that your Petty Cash account is overdrawn -which is a bit unlikely but possible

@aviwe, you are doing something—or several things—incorrectly:

  • When drilling down in the Cash Accounts tab on a cash account balance, the Account column should show the account to which a payment or receipt was posted, not the name of the cash account itself.
  • The fact that your screen shot shows Petty cash under the Account column means your cash account was set up improperly. The Petty cash account should not even have been an option for the transaction on 2019/04/30. See https://www.manager.io/guides/9219.
  • A petty cash account should never be used to record amounts owed, as yours apparently was. Petty cash funds are repositories of hard currency (bills or coins) for immediate deposits and withdrawals.
  • Your screen shot suggests you are making payments of money from your petty cash fund when you have nothing in it. This is impossible.

A drill-down report on a petty cash fund in which a receipt has been entered, followed by a payment, would look something like this: