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D
DawnC4
June 21, 2023
Question

P&L Expense Category

  • June 21, 2023
  • 1 reply
  • 0 views

How do I set up a P&L category, such as R&D, Marketing and G&A and then assign expense categories beneath?   I went to the Chart of Accounts and set up R&D as the name, but when I try to create a new expense, I don't see where I can choose R&D and Materials.

 

For Example:

 

R&D

- Travel

- Labor

- Materials

 

Marketing

- Travel

- Labor

- Materials

- Promo

1 reply

J
JamesM4
June 21, 2023

Hello DawnC4, 

 

Glad to learn you've joined the QuickBooks Community. The program is equipped with powerful accounting features that help you streamline your accounting with ease. I'll be happy to share more info and help steer you in the right direction from here. 

 

Here's how to add an expense category on your Chart of Accounts: 

 

  1. Click on the Gear ⚙ icon then pick Chart of Accounts from the list.
  2. In the upper right section of your COA tap New.
  3. Choose Expenses for the Account Type.
  4. For the Detail Type, choose Other Business Expense.
  5. Fill in the Name field, then hit Save and Close.

I encourage you to give this a try and let me know if you have questions. If the options you've listed above aren't showing then I encourage you to send feedback to our product developers by clicking on the Gear icon and looking for Feedback. I also encourage you to look into our sub-account feature using this guide here. Consulting an accounting professional may also be beneficial in order for you to make sure your transactions and categories are being recorded accurately in the program. 

 

Let me know if this info helps. I'll be one message away in case you have other questions. 

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