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Dear All, The Quick books profit & loss statement is reliable ?

Accounting Financial Accounting Bookkeeping QuickBooks Finance
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Question added by Khaliq Raza MBA MS CFE AFA , Senior Accountant , ARCO TURNKEY SOLUTIONS CONTRACTING LLC
Date Posted: 2017/03/08
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shaheryar malik
by shaheryar malik , General Accountant , Valtorque Valves Trading LLC

We must need to do necessary closing entries to make it reliable. If you have posted all the closing entries like depreciation, apportioning pre-paid expenses , COGS etc. then in my view that P& L statement can be very much reliable.

 

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