How would i set up Prod/Serv of Labor and Materials? When example invoice has... Labor $100 Materials $25 So that Profit/Loss shows: Income $125 Expense $25 Thx!

I'll help you show the designated income and expense amount in your Profit and Loss report, harp2424.

First, create a Service item for the $100 labor. Then, create a Non-inventory item for the $25 materials. 

To show the $25 under expense, use an Expense account under the Income Account dropdown. Here's how:

1. Go to Sales and choose Products & services.
2. Locate the item you made for the materials and click Edit.
3. Click the Income account dropdown, then select an Expense account.
4. Hit Save and close.

You can now run a Profit and Loss report showing the corresponding income and expense amount.

Additionally, here's an article that will help you filter to show specific accounts or format the layout of your report: Customize reports in QuickBooks Online.

Comment below if you need further assistance managing your inventory. I'll be here to assist. Take care!

Thanks CamelleT!

I tried what what suggested and get $100 iincome and -$25 of expenses. 

Was hoping to see $125 of income and +$25 of expenses.

Any other suggestions or maybe I did something wrong?

Thanks CamelleT!

I tried what what suggested and get $100 iincome and -$25 of expenses. 

Was hoping to see $125 of income and +$25 of expenses.

Any other suggestions or maybe I did something wrong?

Thank you for getting back to us, @harp2424.

Let me share additional information about managing product or services in QuickBooks Online.

I appreciate you trying the steps provided by my colleague to track the income and expenses in your Profit & Loss report.

When you create the item for the materials, make sure to use the expense account as the income account. Then, you can enter it as negative amount since it is treated as income.

For future reference, you can read this article to guide you in memorizing a report if you want to save the customization: Memorize reports in QuickBooks Online.

Let me know if you have questions about managing reports in QuickBooks Online. I'm always here to help. Have a great day.