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Hello there, @mcgbookkeeping.
Yes, you can create a Profit and Loss Report report for a specific account only. Let me walk you through in doing so.
To generate a Profit and Loss report, here's how:
- Go to the Reports menu.
- Choose Profit and Loss report in the Business Overview section.
- Click the Customize button.
- Expand the Filter section.
- Select the Distribution Account drop-down arrow.
- Put a check mark on the specific account that you want to be included on the report.
- Click Run Report.
On the other hand, a Balance Sheet report shows the overall financial snapshot of your company at a particular point in time. Thus, it will include all your company's assets, liabilities and shareholders' equity not just a specific account.
For additional insights, you may check these articles:
- FAQ: Basic troubleshooting for balance sheets
- Run a Profit and Loss report by bank account
- How to customize your Profit and Loss report
Keep me posted if you have other questions about creating account specific reports. I'm just a post away.