Run a P&L for each Bank/Investment Account Separately

Yes, there is @EnglishTea. I’m here to help you generate a report that shows the income/expense amounts for a specific bank/investment account.

You can use the Profit & Loss Detail report to get the income and expense amounts of your specific bank account. I’m glad to show to the steps.

1. Open your QuickBooks Desktop account.
2. Go to the Reports menu.
3. Select Company & Financial, then choose Profit & Loss Detail.
   
4. Click the Customize Report button.
5. Make sure the Account Type and Amount are checked under Columns.
6. Select the Filter tab.
7. Select Account, then locate your bank/investment account.
8. Press OK after.
   

I’ve attached a reference in case you want to keep the same report settings for future use: Create, access and modify memorized reports. It helps you access the information quickly to save time.

If you have any other questions or concerns about reports, please don’t hesitate to add a comment below. I’m always here to provide additional assistance. Keep safe always!

MadelynC,

When you go to filters, the account that is already pre-selected is "All income/expense accounts". If you change this to any other account which is not an income or expense account (such as a bank account which is an asset) you will receive the following message "The Report will be blank because it displays only income and expense accounts, but there are no income or expense accounts selected in the report filters".

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@EnglishTea wrote: Is there a way to run a P&L which only shows the income/expense amounts for a specific bank/investment account.

The short answer is maybe.

You can create a P&L that includes all of the details of transactions recorded in that account. However, things that you think are "in the account" may not be. For example, if you deposit customer payments into a bank account, the deposits will be included, but they won't have any income on them. They have payments, which in turn pay invoices, which in turn have income on them. The same is true for A/P bill payments: The expenses are remote, on the bills, and not on the payments. This may be what you are seeing that prompted you to write,

"Unrealized Gain/(Loss)" only included negative amounts and ignored the positive amounts hitting the account)."

I enter my deposits as Journal Entries. For example, at the end of the month, when my bank deposits interest into my account I will Debit "Bank -1234" and Credit "Interest Income". Not sure why QB would not consider the entry to be income.

@EnglishTea 

QB will recognize the credit portion of the journal entry as income, but it has no way of connecting that income with the bank account ending in 1234.  Sure, the debit entry is to that bank account but that is just a deposit in the eyes of QB.  Obviously, deposits aren't automatically income.

Even if you thought you were able to run a P&L by bank account, I wouldn't have any faith in its accuracy.