Adds assets and expenses to come up with net profit. Should subtract expenses from profits for this calculation. Also adds Owners equity and owners draws to come up with final owners equity. Should subtract draws from equity. . Reproducible: Always This is a wonderful program (and I have tried many others). I love all the many features and how easy it is to use and customize. I classified it as a major problem because if I can't trust the calculations then it doesn't matter how much I like it. Thank you for looking into this matter.
corrections/clarification to first line.....should subtract expenses from ASSETS to calculate profits. (sorry)
In general, according to most accounting books and classes, assets - liabilities = net worth and income - expenses = net income (profit or loss). I am unfamiliar with using assets - expense for something. Am I missing a useful metric that I should be using for something? At first glance, the book value of my car less my coffee purchases does not seem to provide great insight.
As far as personal finances are concerned nobody complained about the calculations so far. As Fernando stated we don't add assets and expenses. assets - liabilities = net worth income - expenses = net income (profit or loss). So I'm marking this as invalid.