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May 8, 2020
Question

I need the report that was called, "Profit and Loss Detail" in the old Quickbooks program. I can't find it in the online version. Where is it?

  • May 8, 2020
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1 reply

May 8, 2020

Hi SusanHuddleston. 

 

I'm happy to help show you what to do to run a Profit and Loss report in QuickBooks Online. Follow along below, and you'll have your report in no time.

 

Turn on Location tracking

 

Before you can set up locations for your bank accounts, you must turn on Location tracking feature.

 

Note: This feature is available in QBO Plus and Advanced

 

  1. Select Settings ⚙️.
  2. Select Account and Settings.
  3. Select Advanced.
  4. In the Categories section, select Edit ✎ to open the fields.
  5. Select the Track Locations checkbox.
  6. (Optional) Use the options in the Location label drop-down list to specify a name for the field in which you select a location. If you do not select an option, the name of the field defaults to Location.
  7. Select Save, then select Done.

Set up locations for bank accounts

  1. Select Settings ⚙️.
  2. Under Lists, choose All Lists.
  3. On the Lists screen, select Locations.
  4. Select New.
  5. In the Location Information dialog, enter the bank account name in the Name field.
  6. Select Save.

Assign transactions to locations

 

Now that your banks are set up, you'll see a Location field drop-down list each time you open an Income or Expense transaction. Choose the location you want from the list.While you can assign most transactions to locations, you can’t for payments. Payments are automatically assigned to the location you entered on the invoice when you created it. You can't specify locations for transfers.

 

Run your Profit and Loss by Location report

 

When you have set up your bank accounts as locations, and assigned a bank account to each of your transactions, you can add a Location column to your Profit and Loss report to create a report that lists each bank account separately.

  1. Go to Reports.
  2. Locate and select the Profit and Loss report.
  3. In the open Profit and Loss report, select Customize.
  4. In the Customize report panel, select the Rows/Columns item to open the section.
  5. From the Columns drop-down list, select Locations. If you applied a different label to the field, select that label.
  6. Select Run report.

Now that you've run the Profit and Loss report, check out this article. It highlights the above steps in more detail.

 

- Run a Profit and Loss report

 

If there's anything else I can help with. Please, post down below, I'm just a click away.

 

 

 

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