Are you able to leave your personal drawing expenses out of the profit and loss report

Personal drawing expenses should be entered as an equity transaction so that they don't show up as a Profit and Loss (P&L) entry, springvalecroft.

To record this correctly, you'll need to set up an Owner's Draw account. All transactions recorded under this equity account will be displayed on the Balance Sheet report instead of the Profit and Loss (P&L) report.

Here's how to do it:

1. Go to Transactions and select Chart of Accounts.
   
2. Click the New button.
3. Enter the account name.
   
4. Select Owner's Equity as the Account Type and Detail Type.
5. Click Save.

However, if you have already recorded those drawing expenses in the platform, you can change their associated account to the Owner's Draw account by following these steps:

1. Go to Expenses.
2. Choose a transaction.
3. Under the Category column, select the Owner's Equity account.

Moving forward, make sure to record all your personal drawing expenses under the Owner's Draw account.

Additionally, you can customize your report by filtering to display only the particular data you desire in your Profit and Loss (P&L) report. For detailed guidance on how to personalize reports in QuickBooks Online, please refer to this article: Customise reports in QuickBooks Online.

If you have any further questions about excluding personal drawing expenses from the P&L report, please click the Reply button. We're here to help.