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Level 1

Profit and Loss Statement questions

I evidently have no idea what I'm doing.  Can someone explain to me in simple terms why my deposits made and checks paid to vendors would not show when I run a profit and loss statement?  They are all categorized in the banking section.  Salary and wages, taxes, utilities, advertising, repairs and maintenance all show up. I'm sure there has to be something that I'm missing.  I use QB online.  Any help you could send my way (again, in simples terms) would be so appreciated!  Thank you

3 Comments
Community Champion

Profit and Loss Statement questions

Might be as simple as , did you change the dates in the report from the default that displays current week or month?

Level 1

Profit and Loss Statement questions

I requested a year to date report

Moderator

Profit and Loss Statement questions

Hi there, @dwhites2.

 

Thank you for posting here in the Community. I can provide some clarification about the report in QuickBooks.

 

When you run a Profit and Loss report, it shows your income and expenses. Your categorized transactions should reflect in the financial statement if you choose an expense account type for the category.

 

Check out these screenshots for your visual reference:

 

 

 

 

Please make sure the date of the expense and your report period match. To review the transaction details, please follow these steps:

 

  1. Click the Gear icon in the upper-right corner.
  2. Select Chart of accounts.
  3. Open the expense account.
  4. Hit Run report.
  5. Filter the date range to All dates.
  6. Check the date and details of the expense. 

 

For your checks, ensure you have the correct account for each item. You can check this information by going to the item list page.

 

  1. Click the Gear icon in the upper-right corner.
  2. Select Products and Services.
  3. Search for the item.
  4. Hit Edit.
  5. Review the expense account.

 

To learn more about how the report works, check out this page: Why are my income and expense transactions missing from my Profit and Loss report?.

 

For additional reference, you can use the following articles to learn how to personalize reports in QuickBooks:

 

 

Fill me in if you have additional questions about running reports in QBO. I'm always here to help. Take care always.

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