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bev8878
November 13, 2024
Question

Profit and Loss report by Fixed Asset

  • November 13, 2024
  • 1 reply
  • 0 views

I am using Quickbooks Online Advanced - we have fixed assets.

 

My goal is to be able to report Profit and Loss by Asset.  

 

When posting Supplier bills, is there a way of modifying the bill so there is another column added to identify the  Asset  - similar to the way you can add a class to a specific line item on a bill.

 

Similarly, can an asset column be added to customer invoices?

 

Currently, we use product/service to enter supplier bills and customer invoices.   If possible, I would like transition to posting bills by category and identifying the asset on the line

1 reply

M
MJ_R
November 13, 2024

Hi @bev8878,

 

Welcome back to the Community and thanks for reaching out to us here. I'd be happy to help you with reporting Profit and Loss by Asset.

 

You can achieve this in QuickBooks by using custom fields. Here's how you can do it:

 

Adding an Asset Column to Supplier Bills:

Go to Settings: Navigate to the Settings menu.

Custom Fields: Select "Custom fields" and then "Add custom field".

Create Custom Field: Give your custom field a name (e.g., "Asset").

Select Data Type: Choose the appropriate data type (e.g., Text and number, Dropdown list).

Assign Category: Assign the custom field to the "Supplier" category.

Forms: Select the forms where you want the custom field to appear (e.g., Bills).

Save: Save your changes.

 

 

Adding an Asset Column to Customer Invoices:

Go to Settings: Navigate to the Settings menu.

Custom Fields: Select "Custom fields" and then "Add custom field".

Create Custom Field: Give your custom field a name (e.g., "Asset").

Select Data Type: Choose the appropriate data type (e.g., Text and number, Dropdown list).

Assign Category: Assign the custom field to the "Customer" category.

Forms: Select the forms where you want the custom field to appear (e.g., Invoices).

Save: Save your changes.

 

By following these steps, you can add an Asset column to both supplier bills and customer invoices, allowing you to identify the asset on the line items.

 

If you have any other questions, feel free to reach back out. Take care!

B
bev8878Author
November 18, 2024

Thank you for your detailed response.  I have a couple of follow-up questions for this custom field I have created, "UNIT #"

 

I was unable to find a way to add this custom field to both customer and supplier.    I am adding this custom field so that I can report the P&L for for each of the UNIT#'s each month.

 

Is there a way of adding the custom field so that more than once UNIT # can be identified on a single customer invoice?     We need to track the individual UNIT # on a customer invoice by line items.      We have product/service set up to track the income, but would like to track and report the income and expenses for each individual UNIT #.

 

 

 

J
JamesM4
November 18, 2024

Hello bev8878. Thanks for getting back to us. The custom filed option you've described isn't available in QuickBooks. I can see the benefit of having this function for your business and I encourage you to send feedback about this to our engineers. You can send feedback by clicking on the Gear icon and looking for Feedback. New product ideas and improvements are based on the feedback we get from users like you. I also recommend looking into third-party apps on our app store www.apps.com.

 

Let me know if you have other questions by leaving a comment below. I'll be here.

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