I appreciate you for performing some troubleshooting steps and adding a screenshot above, @NoVA123. This way, I was able to identify the right resolution in letting the Projects feature displays accurate and correct amounts.

The Projects feature in QuickBooks Online (QBO) will calculate your cost based on the hours and billing rates even before you've entered the actual expense transaction. Based on your screenshot above, it seems like you've pulled up the Project Profitability report on an Accrual basis. That's why the amounts you're seeing didn't match.

You'll have to make sure you changed the report's Accounting Method to Cash and set the correct date range to get all the same results. Here's how:

1. Go to the Projects menu.
2. Select the project you want to review.
3. Go to the Project Reports tab.
4. Click the View hyperlink in the Project profitability section.
5. Make sure to set up the correct dates in the Report period section.
6. Change the Accounting method to Cash.
7. Click the Run report button.

I've attached a screenshot below that shows the result.

Additionally, you can utilize the Projects feature to easily understand your business and gives you a clear picture of your profits from every project. You can learn more about this by checking out this article: Track income, costs, and profitability by project. It also includes details on how to calculate your hourly time costs.

Please let me know how it goes. You're always welcome to comment below if you have other concerns about utilizing the Projects feature in QBO. I'm just around to help. Take care always.