I am looking to get an Item Profitability report but the Actual Costs on my report are all showing $0, why?
I am able to run a Job Profitability Report and see all costs associated with that job. But, I want a report by Item so we can see if we are profitable for those items. Can anyone help?? PLEASE!
By default the item profitability report is filtered for "all names", which in turn means only the purchases for items that have a customer:job are included in the report. Not sure why this is.
In any case, if you add a customer:job to the purchases for the item, then those purchases will appear on the report.
Thank you for your reply but I am looking for All Customers/Jobs but my costs are still $0. If i select one specific job/customer the costs are there which is what i want but for all. Why are the costs there for an individual but not all? Please let me know if you have more information. I am in need of this report and I can't figure it out and have called Quickbooks numerous times already. It doesn't make sense why i am not getting the costs for all. I want to see if these items are profitable or not? Do we need to increase our pricing, etc? This report is exactly what i am looking for but my costs are $0 which make it worthless. Thanks again!
Let's get this sorted out so you can get the data that you need, SarahPeace.
I tried to run the Item Profitability report in my QuickBooks and it's giving me an amount in the Act Cost column even if there no customers or jobs in the purchase transactions.
A possible data damage might have caused the amount to not show up in the Act Cost column. I'll share some steps with you that can resolve common data issues in QuickBooks. Here's how:
If QuickBooks doesn't find any problems, select OK. You can keep using your company file. You don't have any data damage. If QuickBooks finds an issue with your company file, select Rebuild Now.
Please see this article for more details: Fix Data Damage on Your QuickBooks Desktop Company File.
Aside from that, you can also use the QuickBooks File Doctor to fix your company file if you're getting the same result.
In addition, make sure that you're using the correct item in the bill when the purchases were made.
Once done, go back to the Item Profitability report and check if you can see an amount in the Act Cost column.
Allow me to share these articles in case you need more guidance when running reports:
Let me know if you have follow-up questions. We always want to make sure everything is sorted out.
I tried this and it is still not showing the actual costs. One thing I noticed was that if you enter a bill you have to enter it under item and not expense in order for the costs to show on the item profitability report, is that correct?
Will this affect my Job Profitability report or P/L or anything else? We have always entered bills under expense. Thank you!
Hello there, @SarahPeace. I'll share some insight about your concern.
First off, I appreciate the amount of effort you've done so far. Yes you are right, if you enter a bill you have to enter it under the item and not the expense in order for the costs to show on the item profitability report.
About your previous transactions, you can seek an accountant's advice on what to do with them. This way, you won't be transferring them into the wrong account.
In case you don't have an accountant, We'll help you find one. You can click this link.
I’m adding a link here where you can search for an article that will help you if you need some information or procedures while using QuickBooks Desktop. Help articles.
Additionally, here are some articles to help you in the future:
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