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A
adilick
September 13, 2024
Question

Profit & Loss by Division

  • September 13, 2024
  • 1 reply
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I have a client who was using QBO but as they were closing up shop and selling their business, they ended their QBO subscription and were using a desktop version to store the information and close up the books for taxes that year.  The sale of the company was only for specific divisions so the use of the P&L by Division report was necessary for financials and data relating to the sale.  Now that it is tax time, we need to run a P&L by Division for the full year end but it is not available in QuickBooks Desktop and I fear that all of the division data has been lost once they took it out of QBO.  Has anyone run into this before?  I know that normal conversion issues are related to going from Desktop to QBO but this one is in reverse order.

 

Any insight or advise would be greatly appreciated.

 

    1 reply

    Tori B
    Tori B
    September 13, 2024

    Good morning, @adilick.

     

    Thanks for taking the time to reach out to the QuickBooks Community. How are you doing today? I hope all is well. 

     

    This will depend on how the divisions are set up in QuickBooks Desktop. Are the divisions set as class? If so, you can run a Profit and Loss by class report for the year and customize it to show certain classes in QuickBooks Desktop. I'm including some steps below to run the report and customize it. 

     

    1. Go to the Reports menu. 
    2. Click on Company and Financial, then Profit and Loss by Class. 
    3. Set your date.
    4. Tap on the Customize button in the top left corner of the report. 
    5. Go to the Filters tab. 
    6. in the search bar, key in Class. 
    7. Select Multiple Classes. 
    8. Choose the classes you wish to see, then hit OK. 

     

    That should do the trick. If your company has divisions set up differently, please let me know. Any additional information that you share will be a great help in finding the right report for you. 

     

    Don't hesitate to let me know if you have any questions or concerns. I'll be sure to keep an eye out for your reply. Have a good one! 

    A
    adilickAuthor
    September 13, 2024

    Tori,

     

    Thank you so much for trying to help but unfortunately they were using both classes and divisions in QBO.  The classes are still available in the Desktop QB but the division data is not.

    I
    Ivan_G
    September 13, 2024

    I appreciate you returning to this thread and providing additional details, adilick.

     

    To clarify, QB Desktop doesn't have an option to track data by divisions. Alternatively, you can use the class tracking feature in the Desktop version and manually apply it to your client's transactions. To set up and use the function, please check this link for guidance: Set up and use class tracking in QuickBooks Desktop.

    See the screenshot below as your visual reference:

     

     

    You can also review this article to familiarize how your data is transmitted from Online to Desktop: Learn how features and data move from QuickBooks Online to QuickBooks Desktop.

     

    I've also added these resources that tackle details about how to manage, personalize, and save your modifications on your reports:

     

     

    Helping you is our top priority. Add a comment below if you have follow-up concerns about data migration or other queries regarding transactions, reports, and QuickBooks menus. The Community is open 24/7 to assist you.

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