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July 11, 2023
Question

I have added expenses to the last financial year after July 1, using June 26th as that's when they were purchased. It's not being added to profit and loss for that year?

  • July 11, 2023
  • 1 reply
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1 reply

MJoy_D
July 11, 2023

I can share some information about missing transactions from your profit and loss report. 

 

Can you tell me more about how you've entered this expense into your QuickBooks Online (QBO) account? When you run the Profit and Loss report, please take note that with bills and bills payment, the expense is tracked by the bill.

 

Then, try to check the accounting basis of your report. When you choose the Cash method, the business only reports the income and expenses for completed transactions. You only see transactions after you pay your bills. If you choose the Accrual method, completed and pending transactions show up on your reports.

 

Here's how to check the accounting basis:

 

  1. Go to Business Overview and select Reports. 
  2. Open and run the Profit and Loss report.
  3. Check the Accounting method. Select either Cash or Accrual
  4. Set all the necessary information. 
  5. Click on Run Report.

 

Here's more information on how to troubleshoot missing transactions in your Profit and Loss report: Why are my income and expense transactions missing from my Profit and Loss report?. Here's also what to do if you see unapplied cash bill payment expenses on your profit and loss

 

Then, check out this article for detailed guidance on adding multiple filters to your reports to get all the information that you need and automating it: Customise reports in QuickBooks Online.

 

Let me know if you need more information about your expenses and reports. I'm always glad to help in any way I can. Have a wonderful day!