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February 23, 2023
Question

What is best way to run a P&L report to pick up all costs?

  • February 23, 2023
  • 1 reply
  • 0 views
Use tags?

1 reply

February 23, 2023

Hello there, @rich-levelupcali.

 

In QuickBooks Online (QBO), running a Profit and Loss (P&L) report will show all costs. However, if you want a detailed breakdown of your transactions, we can use the class tracking, tags, and location feature. 

 

Here's how:

 

  1. Go to the Gear icon.
  2. Choose Account and settings under Your Company.
  3. Go to the Advanced menu, and click the Pencil icon for Categories to see more details.
  4. In the Track classes section, move the slider to the right to activate the function.
  5. Tick the Warn me when a transaction isn't assigned a class box.
  6. Under Assign classes, select One to entire transaction or One to each row in transaction.
  7. Hit Save and Done

 

This reference gives an overview of how to set up your business to use the class feature: Turn on class tracking in QuickBooks Online.

 

Next, add your class list in QuickBooks Online (QBO). Then, use the newly added class to your transactions

 

Also, to find out more about tags and location features, please see these articles:

 

 

The resources listed below can also help you track revenue, expenses, or profitability by business segment, as well as other accounting-related tasks:

 

 

Fill me in if you have additional questions about running reports in QuickBooks. I'll get back as soon as possible and respond to them.