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O
orlan
February 17, 2021
Question

How can I get the Net Ordinary Income to show on Profit/Loss Reports?

  • February 17, 2021
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

Rebecca R
Rebecca R
February 17, 2021

Hi there orlan and welcome to the Community,

 

QuickBooks Online is equipped with a comprehensive reports feature that enables you to take a snapshot of your business' money movement at any given time. You also have the option to customize these reports further in order to see exactly the data you need. Let me give you a hand with navigating the Profit and Loss report.

 

Your Net Income is also known as Profit and in it's essence, is your income after all expenses have been deducted from revenue. When you navigate to the Reports menu and run a Profit and Loss report, you'll see a Profit section at the very bottom. This subtracts your Total Expenses from your Total Income to give you a final amount. 

 

If you're looking for something a little different, you have the option to hit Customize in the upper right to add filters or change the way the report is organized. You can choose to filter by Account, Customer, Supplier, Product/Service, and more depending on how your business is using QuickBooks Online. Check out our article on how to Customize reports in QuickBooks Online to learn more about the capabilities this function has.

 

Please feel free to ask follow-up questions if you have them. It's my job to make sure you're familiar with how to run the reports you need. Take care!

O
orlanAuthor
February 17, 2021

Thanks for responding, but that's not what I need!

The issue is that your report does not show a total before the extraordinary items. In other words, Other Income and Other Expense accounts need to show below the Net Ordinary Income total.

You have a Gross Profit line after COGS, we also need this before Other Income/Expense.

Other income and expense includes things that are not really Business Income, such as interest income, rebates, non-deductible interest and penalties etc.

R
Rochelley
February 17, 2021

Hello @orlan ,

 

Yes, I agree with you.  The 'Net Ordinary Income' total is missing from QBO P & L reports.  This is standard on QB Desktop, so I'm not sure why it wasn't programmed into QBO.  As I've learned from being on these forums, it's one thing to express a want/need for any QB program on the forum, and it's another to actually provide feedback to the developers.  If enough people provide feedback for a product suggestion, it has a better chance of being implemented in a future iteration of the software.  I'll provide the same feedback regarding this topic if you do, and hopefully others will as well.

 

Gear Icon --> Your Company --> Feedback

 

Happy accounting :)

 

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