I created an items in "Sales -> Products and Services" called "Travel." I created an "Income Account" called "Travel Reimbursement" and selected that as the Income Account associated with Travel. When I invoice clients for our travel time, I select Travel in the Product/Services column. The problem is, in the P&L report, the amounts in Travel are getting combined with Sales (I can see this happening when I view the Detailed P&L report).
A little more info that may be helpful:
- In the chart of accounts, Travel Reimbursement is setup as Account Type: Income; Detail Type: Other Primary Income; and Name: Travel Reimbursement
- In the chart of accounts, Sales is setup as Account Type: Income; Detail Type: Sales of Product Income; Name: Sales
Why is Travel Reimbursement showing up in the P&L under Sales and not as its own line item? I have other Income lines that are broken out separately (Billable Expense Income, Tips & Gratuity, etc).
Thanks for the details, tamann0619.
I'm here to help you review the Travel Reimbursement account.
It's possible that this was added as a sub-account for Sales. In your Chart of Accounts and Profit and Loss report, each sub-account appears indented below its parent account.
If you want the Travel Reimbursement account to show as a single line item in the Profit and Loss report, you can remove it as a sub-account for Sales.
Once done, run the Profit and Loss Detail report. The Travel Reimbursement account should now show as a single line.
Please let me know how it goes. I'd be happy to help. Have a lovely day.
Thanks for your quick response, tamann0619.
First, let me share some details about the income and sales category in QuickBooks Online.
The sales category comes from the sales forms (invoice and sales receipt) only. The income category is generated from the sales forms and non-sales forms transactions (income deposits without sales forms). Here's a blog that'll give you more details: Sales by Customer vs. Income by Customer Reports.
As for the Profit and Loss Detail report, the Sales, Travel Reimbursement and other income accounts will show under the expandable Income section. They are treated as sub-categories for income (see screenshot below).
If you require additional information, please let me know by adding a comment below. I'll be here. Have a good day.
Yes, all that makes sense. Maybe the image below will help clarify what I'm after. I'd like to have the Travel Reimbursements income account show up as it's own line item in the P&L report. Here's what currently showing up:
There is about $2k of Travel Reimbursement in the $23k sales number. I'd like the P&L to show the Travel Reimbursement separately, just like the other income accounts in the image above.
Actually, something isn't right in my QB. I just trying to dig into this on my own and realized that Travel Reimbursements has no activity. Originally, I actually did have Travel hitting the Sales account. It was only today that I created the Travel Reimbursements income account and changed the Travel product/service from Sales to Travel Reimbursements. I assumed that would have updated PAST invoices that used the Travel product/service, but perhaps it did not? How can I go back and fix the past invoices that had Travel?
And I fixed it....
I went back and edited the Product/Service for Travel. I changed the Income Account to something else (just picked something random), saved it, and then opened it again and changed the Income Account to Travel Reimbursement. This time I checked the box to apply to all historical transactions. That seemed to do the trick.
I'm about to tell you that there's an "Apply to all historical transactions" box in the item setting to update the previous invoices. I'm happy that everything is already settled down.
If you need anything else, please let us know. We're here to help.