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JSMTokyo
August 23, 2023
Question

Simple question: How much money did I spend

  • August 23, 2023
  • 2 replies
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I have spent hours with support and still have not received a correct response to this simple question: how much money did I spend (for a time period, by class and category)

 

For example, P&L Reports show expense exclusive of sales tax. Expenses by Supplier, Transactions by Supplier reports do not include loan principal payments (just interest payments).  I don't care if the money out is a P&L item or a BS item, its cash flow, and I want to see the total spend for a month (by class and category).

2 replies

KlentB
KlentB
August 24, 2023

I have a solution that can help you in obtaining that information, JSMTokyo.

 

Please know that the expense summary report only reflects payments coded to expense accounts and not the actual overall expenditures. For a comprehensive overview of all the money you've spent for a particular period, grouped by category or class, we can pull up and customize the Transaction Detail by Account. Then, export it to Excel to calculate the total amount using the SUM function. I'll walk you through the steps:

 

  1. Go to Business overview, then choose Reports.
  2. Open Transaction Detail by Account and click the Customize button.
  3. Group the rows/columns according by category, class, or date, then set the appropriate reporting period.
  4. Head to the Filter section and select all the money-out entries from the Transaction Types drop-down menu.
  5. Hit Run Report, then click the Export icon.
  6. Choose Export to Excel, then open the downloaded file.

 

To learn how to maximize QBO's reporting capabilities, I recommend reading these articles:

 

 

Should you require further assistance in managing your financial statements, lists, or business transactions, just notify me by dropping a comment below. I'll always have your back!

Rainflurry
Rainflurry
August 24, 2023

@JSMTokyo 

 

Run a Statement of Cash Flows report for the time period you want.

J
JSMTokyoAuthor
August 24, 2023

@Rainflurry thanks.  Yes the statement of cash flow report shows both principal and interest payments.  However the P&L is collapsed into one line (can't see by category), and is exclusive of sales tax.  Sales tax paid/owed is in the assets/liabilities section and it is not easy/clear what is a paid amount versus a liability/asset

Rainflurry
Rainflurry
August 24, 2023

@JSMTokyo 

 

The P&L is collapsed into one line because you can see the details of that on your P&L.  Net income is the starting point for a statement of cash flows.  It is then adjusted by the changes in assets and liabilities.  The net effect of sales tax collected/paid is listed under the 'Adjustments to reconcile Net Income to Net Cash provided by operations'.  An increase in your sales tax liability increases your cash flow and a payment made to reduce the liability decreases it.  Those sales tax adjustments should be itemized on the report. 

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