Thank you. I need the solution for QBO.
Thank you for getting back to us here in the Community, @john14.
Allow me to share some information about running the Profit and Loss report in QuickBooks Online (QBO).
The Profit and Loss (P&L) report summarizes your income and expenses for the year, so you can tell whether you're operating at a profit or loss. It also indicates how the revenues are transformed into the net income.
Your bank account is your asset reason that there's no transactions pulling up when customizing your report using your bank accounts in the P&L report. However, you may run/open the Balance Sheet report, which gives a financial snapshot of your company as of a specific date. It also calculates how much is your business's equity, liabilities, and assets.
Feel free to drop by if you if you have any other concerns about customizing the P&L report. Wishing you the best!
Correct. Thank you.
In Nonprofit accounting, there are bank accounts "with donor restrictions" and bank accounts "without donor restrictions". Because of this, when preparing a statement of activities, being able to prepare a profit an loss statement from the unrestricted and restricted bank accounts separately is very helpful.