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Everything you need to know about connecting your bank and credit cards in QuickBooks Online
sheonalli-yahoo-
Level 1

Year end financial statement not showing the Depreciation Expenses in the statement line "Depreciation" for amount on the Account "Depreciation" in the Chart of Accounts

I am preparing the annual accounts Financial Statements this year under Work papers for the first year for the limited liability company.  The amount of Depreciation expense on the account "Depreciation" in the Chart of Accounts, is not showing up on the summary P&L or Detailed P&L as Depreciation.
1 REPLY 1
Kurt_M
Moderator

Year end financial statement not showing the Depreciation Expenses in the statement line "Depreciation" for amount on the Account "Depreciation" in the Chart of Accounts

We'll provide details to help you show the depreciation expense amount in the report that you're accessing inside QuickBooks Online (QBO), Sheonalli.

 

It is important to understand that the browser utilized to access your company file stores temporary internet files, which can impact the program's performance. We recommend performing basic browser troubleshooting to ensure yours is free from temporary data and restore it to its default function. 

 

To begin, you'll want to access your company file using an incognito or private browser through these shortcut keys:

 

  • Safari 11 or newer: +Shift+N
  • Chrome: Ctrl+Shift+N
  • Firefox: Ctrl+Shift+P
  • Safari: Command+Shift+N

 

Once you're in, try to run the profit and loss report and see if the depreciation expense amount shows. If it shows, proceed to clear your browser's cache. Refer to this article for the steps: Clear cache and cookies to fix issues when using QuickBooks Online.

 

 

 

Also, you'll want to ensure that the report is filtered accurately to show the data that you need for your business. We'll outline the steps to get you going:

 

  1. Access your QuickBooks Online company.
  2. On the left navigational bar, click the Reports tab.
  3. In the Search bar, enter Profit and loss and then click on the result.
  4. Select the Customise button and then in the Filter section, click the box beside the Distribution Account.
  5. Click the Dropdown arrow and then select All.
  6. Once done, click the Run report button.

 

For more details, please see this article: Customise reports in QuickBooks Online.

 

In addition, here's an article to help you secure current report settings so you can utilize them again in the future: Memorise reports in QuickBooks Online.

 

Our dedicated team is ready 24/7 to extend a helping hand in fixing a report to show the needed details. You can also visit the Community space or comment below so we can respond as soon as possible. Keep safe.

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