QB Issue Resolution:

You are right, QBO can act quite differently and even on its own double enter transactions as can be seen in some recent questions. But once a transaction is actually “in” your books as opposed to bank feeds which are pending and For Review, then if it is income or expense it will be in P&L.

 

What will not be in Cash Basis P&L will be invoices and bills which have yet to be paid. Since they are not paid there is no banking activity, but they would appear in Accrual Basis P&L – that is the biggest difference between accrual and cash.

 

Underneath every version of QBO and QB Desktop , quickbooks is in fact accrual based accounting – it is the choice you make of how the data is reported to you that makes the difference.

Resolution for Issue 'If the bank account hasnt been reconciled, Will my “Cash Basis” profit and loss include those figures?' available: Yes (Solved).
Source: Intuit Community forum.

If the bank account hasnt been reconciled, Will my “Cash Basis” profit and loss include those figures?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for Cash basis
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Error Recovery for Cash basis [Canada]
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