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WalH
January 8, 2021
Question

Profit and Loss Reports

  • January 8, 2021
  • 1 reply
  • 0 views

Within the company there are two bank accounts for two businesses, it combines all of the information as one when doing a profit and loss. How can I fix this so each are separate?  We are selling the businesses and need a profit and loss statement for each going back over the last three years.

1 reply

JessT
JessT
January 8, 2021

Thank you for reaching out to us, WalH.

 

I'll help by sharing information with you about the report you need.

 

In QuickBooks Desktop, you can enable the Class tracking feature. That way, you can assign classes to your transactions to tag which business they belong to. Then, you can run the Profit & Loss by Class report to know how much you're making in each class/business.

 

Please note that this will take a lot of effort because you will want to assign classes to all your transactions individually. There is no batch option or a shortcut for assigning classes.

 

If you have other questions in mind, you can always go back to this thread. Have a good one!

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