Profit Loss report

Hi there, @mnc1322. I'll walk you through the process so you can track your income separately per zip code in your QuickBooks Online (QBO) company.

Before anything else, I'd like to ensure we're on the same page. If you want to see every income transaction you've made in different location, you can utilize the Class tracking feature the QBO offers. This feature shows each part of your company so you can get a deeper insight into your sales or the profitability of each part of your business.

I'll gladly input the steps below so you can proceed. To begin, you'll want to turn on Class Tracking. Here's how:

1. Access your QuickBooks Online company.
2. On the top-right corner, click the Gear icon and select Account and Settings.
3. Click Advanced, then select the Categories section to edit.
4. Check Track classes.
5. Check Warn me when a transaction isn't assigned a class. This is optional, but it's good to turn on, so when you look at reports, you know everything got classified.
6. Under Assign classes, select One to entire transaction or One to each row in transaction.
7. Select Save, then Done.

For more further details, please see this article: Turn on class tracking in QuickBooks Online.

Once done, you can proceed to set up location tracking to determine the sales you've made in each transaction you've processed in different locations. Feel free to see this article for more information: Set up and use location tracking.

In addition, here's an article to help you modify your report and add more details to it in QBO: Customize reports in QuickBooks Online.

Also, if you want your current report settings to be saved, visit this page: Memorize reports in QuickBooks Online.

@mnc1322, I'm rooting for your success in getting this sorted out. In case you need further assistance tracking your sales inside QuickBooks. Please don't hesitate to mention my name in the comment section below. I'll make sure to get back to you as soon as possible. Take care!

KurtKyle_M

thank you so much for your quick response. after reading your article, how do I know if I need to use the location tracking or the class tracking? This is all new to me and I just want to make sure I am doing this correctly (and EASIEST) for my corporate company.

I own a tutoring business, and there are certain zip codes that get a different rate than others. So I need to basically divide my income into 2 categories. "protected and unprotected" depending on their zipcodes. Does that make sense? So I will be able to see the Profit/Loss report as a whole and then if I detail it break it down into those 2 categories. 

Not sure if that confused you or helped you! Would I still use the class tracking? Thank you so much!

Thanks for your prompt reply, @mnc1322. 

Let me make it up to you by lending additional help to your concern.

Yes, you can still utilize the Class tracking feature in QBO to see your protected and unprotected income in the Profit and Loss. However, we're unable to see the zip codes in the said report.

That said, it's best to reach out to your accountant for professional advice. They know the best process to sort this out and achieve your goal. If you're not affiliated with one, you can utilize our Find an Accountant tool to look for one in your area.

Please know that you're always welcome to post if you have any other concerns about reports in QBO. Wishing you and your business continued success.