Cash in bank account vs Profit and Loss sheet

I was wondering, why is it on the dash board, lets say, our bank account shows it has £124 in it… but when i look at the profit and loss sheet, it shows only £70 profit. - This doesnt add up or make sense to me, or am i making a novice mistake?

Please advise if possible.

many thanks in advanced!

Why would your bank account balance equal your profit?

Profit and Loss is based on invoices sent and received, nothing to do with your cash position. So if you’ve raised one sales invoice for £100 and a purchase invoice for £40, your profit and loss will show a total profit of £60.