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Level 1

Annual Profit & Loss report

I've noticed that on the Annual Profit & Loss report item 6810 - Equipment Purchase isn't included.


Do I need to change the item number of Equipment Purchase to something else so that it will show up on the Annual Profit & Loss report? If so, where can I find a list of item numbers that will show up on the report?


Rusty Wright

4 Comments 4
QuickBooks Team

Annual Profit & Loss report

Hello there, @DHHNM.


QuickBooks Desktop (QBDT) United States (US) can only support US sales tax. For the Equipment Purchase, we need to make sure that the category is either Expense or Income.


Also, the transaction is allocated to that account on the date selected when running the Profit & Loss report.


I've added this link about understanding reports in QBDT: Understand reports.


You can also check this article to learn how to customize reports: Customize reports in QuickBooks Desktop. It can help you easily access your reports in the future.


Don't hesitate to drop a comment below if you have other questions. I'm more than happy to help. Take care!

Level 13

Annual Profit & Loss report

What type of equipment is it?


It is not showing up on your P&L report because, when you purchase equipment, you are purchasing an asset and have not expensed anything yet.  If you run a balance sheet report, you should most likely see it under 'Fixed Assets'. 


Income and expense accounts show up on the P&L and asset, liability and equity accounts show up on the balance sheet (what you own vs. what you owe). 


You can't just expense equipment without knowing whether or not it is allowed.  Some equipment can be expensed immediately and others need to be depreciated (an expense) over time.  You should contact a CPA to know for sure.  

Level 1

Annual Profit & Loss report

Hi Maybelle_S,
First, in the database it does show up as an expense.
Second, it does appear in the monthly Profit & Loss BUT not in the annual. I've been assuming that if an item is in the monthly profit & loss, it would appear in the annual.
Is this incorrect?
QuickBooks Team

Annual Profit & Loss report

Thanks for the clarification, @Darrell.


Allow me to share some insights about running reports in QuickBooks Desktop (QBDT).


In QBDT, you can customize reports base on your preferred data. A possible reason it doesn’t show in your annual profit and loss report is that the item is not yet created within that time frame. Thus, it only shows on your monthly profit and loss report.


You’ll want to ensure the data or information you’re looking for in a report matches the setting you set. For more details about running reports and how to generate it base on your preference, you can check out these articles for guidance:

You might also want to check this link that can guide you in exporting your reports to Excel. This way, you can access your reports anytime outside QuickBooks.


Let me know if there’s anything else I can help you with managing your reports. I’m always around to help. Have a good one.

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