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smilingcas
Level 1

Below the line expense

How Do I identify a specific expense to be 'below the line' on P&Ls

Solved
Best answer November 04, 2018

Best Answers
vpcontroller
Level 11

Below the line expense

@smilingcas

 

You will need to select "Other Expense as Account Type" in the Chart of Accounts. For the Detail Type, you can select from the list or just Other Miscellaneous Expense. That way the expense category line will show below the Net Operating Income as Total Other Expenses at the bottom before the Net Income line.

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detail_type_other_expense.PNG

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10 Comments 10
Rustler
Level 15

Below the line expense

Other expenses is the only thing that posts at the bottom of the P&L, whether that is below the line to you or not I am not sure

 

If you mean after net income, not something QB will do, you would have to export the P&L and format it the way you want in excel

smilingcas
Level 1

Below the line expense

I tried to categorize the account as 'other business expense'. That didn't seem to work. I also have a category called 'other misc service cost'. Those are the only two that have 'other' in the title. 

vpcontroller
Level 11

Below the line expense

@smilingcas

 

You will need to select "Other Expense as Account Type" in the Chart of Accounts. For the Detail Type, you can select from the list or just Other Miscellaneous Expense. That way the expense category line will show below the Net Operating Income as Total Other Expenses at the bottom before the Net Income line.

.

detail_type_other_expense.PNG

ElenkinS
Level 1

Below the line expense

My QBO P&L does NOT show "net operating income" any ideas why? Any way to fix it?

 

It shows "total expenses" and then "other expenses" section, but NO "net operating income" in between the two

 

thanks

Joyce_P
QuickBooks Team

Below the line expense

Hello there, ElenkinS.

 

The Net Operating Income typically shows in the Profit and Loss report. Since it's not showing in your end, I'd recommend contacting our QuickBooks Customer Care team. They can help you further with this concern. Also, I'd make sure to pass your experience along to our engineers so they can look into it.

 

Here's how to contact them: 

  1. Go to Help (question mark icon).
  2. Click Contact us.
  3. Enter a brief description of your concern in the How can we help? field and click Continue.
  4. Choose an option in reaching our live agent.

Please let me know if you have more questions. I'd be right here to answer.

ElenkinS
Level 1

Below the line expense

will attempt that, thanks

ElenkinS
Level 1

Below the line expense

i tried that and didn't get me anywhere

Other ideas?

thanks

HoneyLynn_G
QuickBooks Team

Below the line expense

Thanks for reaching out back to us, @ElenkinS.

 

The Net Operating Income is your revenue through daily sales of operating your business. The posting of your amounts depends on how you set up and created the accounts in QBO as well as your company type and industry.

 

I want to help the best I can and get this sorted. I will just need more details. May I know your company type and industry? I'd also appreciate if you can attach a screenshot of your Profit and Loss report.

 

Here are the steps in checking your QBO company type and industry:

  1. Click the Gear icon.
  2. Choose Account and Settings.
  3. Select the Company tab.
  4. Go to the Company type section to get the Tax form and Industry information.

 

I'll keep an eye for your response. I'm looking forward to helping you more in the future.

vpcontroller
Level 11

Below the line expense

@ElenkinS

 

This has nothing to do with "Company type" in the Gear settings.

 

What's the Account Type for 'Other Expenses' you've in your Chart of Accounts? 

It should set up as "Other Expense" Account Type.

JamesSullivan
Level 2

Below the line expense

Surely Intuit could add a "Net Profit Report"  that shows the profit after income and normal expenses....you could then use such a report to do an EBITA report  (earnings before Interest, tax and amortisation).if you were to code tax , interest and amoritsation/depreciation to Other Expenses ...how handy would this be...

you could also use the same report for Trust's or Partnerships to show net profit before distributions to partners/beneficiaries  (if you were to code distributions to other expense)

 

This product has been around for ages please please create a report "Net Profit before other expenses",  "Net Profit before Abnormal Item"  "Net Profit Before Distributions"  call it what you like.

 

We are in Australia and we love the new management reports that we can do....if  this report was enabled we could use the management reports to do up clients Financials...but because it doesn't we have to import into other software.....double handling is dumb.

 

 

 

 

 

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