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October 10, 2023
Question

I asked this:When I purchase stock , how do I create a bill with items so that the bill shows correctly in the P&L and as purchase.The answer did not solve my problem

  • October 10, 2023
  • 1 reply
  • 0 views
Navigate to Settings ⚙, then Account and Settings. Choose Expenses. In Bills and Expenses, select edit ✎. Turn the Show Items table on expense and purchase forms on. Click Save, then Done
This , did not solve the problem

1 reply

October 10, 2023

I appreciate all your efforts in trying to show the items correctly on the financial report, naamansua. Let me help provide clarifications on why some bills don't appear on the Profit and Loss statement. 

 

The accounting basis and date used can impact the data displayed on your reports in QuickBooks Online (QBO). It paints a different picture depending on the method or date range you select. 

 

If your business uses the accrual method, all recorded transactions including unpaid invoices and bills will show on the financial statement. The cash accounting method only shows transactions after payment has been sent or received.

 

 

Thus, if you mark the bill as paid, it will appear on the Profit and Loss report. For more in-depth information, check this article: Choose between cash and accrual accounting methods in QuickBooks Online.

 

We'll have to change the reporting basis and the information set in the Display columns by section to see the items you wish to appear on the report. 

 

Here's how:

 

  1. In your Profit and Loss statement, head to the Accounting method section and tick the radio button for Cash or Accrual.
  2. Click the Display columns by drop-down and choose Products/Services
  3. Press the Customize menu to add more details to the report.
  4. Tap the Run report button to apply the changes. 

 

Here's an article that will visually guide you through the process: Customize reports in QuickBooks Online.

 

Furthermore, this link includes a list of topics that will guide users on how to open a specific statement and memorize one, to name a few: Setting up reports to customize, run, and share.

 

If you have any clarifications or additional questions about the Profit and Loss and other reports, drop a comment below and tag my name. I'll get back to make sure this is taken care of for you.