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I’d like to take this opportunity to share some information on QuickBooks Online handles discount item and P&L report.
Discount items are not reported as an expense. However, it is reported as a reduction of gross sales. The Profit and Loss report represents the profitability of a business. Thus, it shows your total income and expense.
Depending on how you set up the discount item, the discount item should be included in your Profit and Loss Report. Usually, it is displayed right below the Other Income section. It should show a negative amount.
Stay in touch with me and let me know if you have other questions about managing your discount item and viewing your Profit and Loss report. I’m always here to help.