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daNiSMors
October 6, 2022
Question

FX gain/loss on Profit and Loss by Tag Group Report

  • October 6, 2022
  • 1 reply
  • 0 views

We are using QBO multicurrency and use tags also for different projects. We just noticed that in the Profit and Loss by Tag Group Report, we are unable to see the FX gain/loss transactions that we can see in the Profit and Loss Report. Most of the transactions that cannot be seen are Bill Payment (Check) that are related to invoices that have tags already. Is there a way we can show it also in the Profit and Loss by Tag Group Report?

 

Also is there a way we can add a tag to a journal entry?

 

Our end goal is to generate a report and use the Profit and Loss by Tag Group, that's why we want to see everything there. 

 

1 reply

Angelyn_T
Angelyn_T
October 6, 2022

Hi, @daNiSMors. Let me provide insights about running the Profit and Loss (P&L) by Tag Group report.

 

I can see that your FX gain/loss transactions are reflected on your P&L report but not in the P&L by Tag Group report. It can happen when these entries don't have tags added. You can open these transactions and make sure to add tags under the Tags section. I've added this screenshot for your visual reference.

 

Once done, reopen your report to see the result.

 

For more tips about the foreign exchange gains or losses, you can open this article: Frequently Asked Questions about Home Currency Adjustments.

 

If you have other questions about your report, let me know by adding a comment below. I'm more than happy to help. Keep safe!

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daNiSMorsAuthor
October 6, 2022

Yes, we did that to all transactions when there's an option for tagging. I have attached screenshots of the P&L by Tag and the actual Bill Payment where there's no tag option field. Is there a way we can tag it? I got the same question with Journals too.

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Alex M
October 6, 2022

Hello daNiSMors,

 

Tags can be added to many different transaction types, such as bills, invoices or expenses, but not all transactions can be tagged. The two types you mentioned, Journal entries and Bill payments, are not able to be tagged to be seen in the report. The bill payments shouldn't be appearing in any Profit and loss report, as the expenses would be recorded within the Bill itself, and not the payment. I can see how having the ability to add tags to these transactions can help you see them categorized in various reports. I recommend leaving feedback in the system by clicking on the Gear icon, then Feedback. The comments made in that section are taken into consideration when designing new features for QuickBooks Online.

 

If you have any other questions, feel free to reach out here.

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