Skip to main content
All CollectionsApplication processDocuments
Why do the dates need to match in both the balance sheet and the P&L statement?
Why do the dates need to match in both the balance sheet and the P&L statement?
Updated over a week ago

The dates on both the balance sheet and profit & loss statement have to be through the same period. For example, if the YTD balance sheet is "as of August 1st" but the profit & loss is from January-March, a lender won't accept the document. The P&L statement would need to be from January to August 1st to match the period of the balance sheet and vice versa.

The balance sheet date will always say "as of [exact date]" i.e., "as of August 1st" and the P&L statement will always be through a period from "Jan-Aug 1st" or "Jan-Aug 30th."

Did this answer your question?