Landlord Vision

Hi All

I am a new user and I have input information that I would now like to use the report function for. I am having differing figures for rental income in Cash Flow and from Profit and Loss. Surely these should be the same figures being pulled through, can anyone suggest why this is or if I am doing something wrong?

Thank you

Hello Laura

Thank you for your message

The Cash Flow and Profit and Loss reports use different methods for calculating the numbers. The Cash Flow report uses the cash based method of accounting which uses what has arrived in your bank account to calculate the numbers. The Profit and Loss report uses the accruals method which takes entered invoices which have yet to be paid to calculate the numbers. As a result you will get different results on the two reports

You now have the option to change the Income Tax report to the cash based method. Please familiarise yourself with the tax rules before switching over

Kind regards
Roy