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Doug4800
Level 2

Gross Profit by Revenue Type

This is a simple question and hopefully there is a solution.  We have used QB for year and recently upgraded to Enterprise.  We would like to generate our Income Statement so our Gross Profit is listed by Revenue Type (we have three).  Is this possible to modify the base income statement report to expand it other than listing only one Gross Profit line.  The Total gross profit is obviously needed but I would like that to be the total of our three.  See below but this is basic accounting and I would think this is possible!

 

Gross Profit

    Hardware    100

    Services      150

    Software     120

Gross Profit    370

4 Comments 4
LeizylM
QuickBooks Team

Gross Profit by Revenue Type

Hi there, Doug4800. 

 

Allow me to share some information about Gross profit in QuickBooks Desktop (QBDT). 

 

We can add subaccountants so you can keep track of specific accounts under a parent account. Beforehand, let's create a backup copy of your QuickBooks company file: Create Backup Copy.

 

Here's how:

 

  1. Go to the Lists menu, then select Chart of Accounts.
  2. Click the dropdown arrow under Account and select New. 
  3. Choose one account type and click Continue. 
  4. Mark the Subaccount of the box.
  5. From the Subaccount  ▼drop-down, select the parent account.
  6. Click Save & Close.

 

For more information, you can review this guide to see the detailed steps on managing your accounts: Add, edit, or delete accounts in QuickBooks Desktop.

 

In addition, I've included this resource for your reference about reconciling your account: Reconcile an account in QuickBooks Desktop.

 

Get back to me if there's anything else you need about managing your accounts in QuickBooks Desktop. I'm always here to help. Have a good one!

Doug4800
Level 2

Gross Profit by Revenue Type

Ok so the software can't report on something is basic as Gross Profit by type.  For something that calls itself enterprise software, that is not really acceptable. 

 

Your solution provided here has been understood because we have many sub accounts for many different account types.  I would leave your response to the question as, "QB can't modify the income statement for Gross Profit because subaccounts can't be created for that specific line item."  That is the honest answer.

Shafiqch
Level 3

Gross Profit by Revenue Type

Yes, that is possible in QuickBooks enterprise. You can customize report and change default row vs column display to see Gross margin by category. 

Doug4800
Level 2

Gross Profit by Revenue Type

That is great news Shafiqch but do you have any links to how to actually do it.  I am not following you!

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