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tlandis_ksu
January 31, 2025
Question

Account Reports not netting income and expenses

  • January 31, 2025
  • 2 replies
  • 0 views

We switched from QuickBooks Desktop to QBO this year and there are a number of things that don't work as well as Desktop did, particularly with respect to reporting. I'm disappointed (really annoyed) to find that when I run income and expense reports for classes, the report simply adds all the numbers and doesn't net the debits and credits. The attached pdf illustrates the "incorrect" (pulled directly from QBO) versus the "correct" (manually manipulated in Excel) report for one class,  Is there a solution that will make the report correct this issue? It seems like a coding problem. Any thoughts are appreciated.

2 replies

M
Mark_AG
January 31, 2025

Hi there.

 

Your perspective matters and I appreciate you taking the time to provide the supporting documents. Yes, you can correct this report by ensuring to use the proper customization. Let me help you pull up your Profit & Loss by Class reports and display the accurate net balance for all transactions.

 

Here's how:

 

  1. On the left menu, head to Reports.
  2. Search for Profit and Loss by Class report.
  3. Click on the amount of the selected account to show the Transaction Report.
  4. Select the Customize button and under the columns section, choose the Date, Transaction Type, Split, Amount, and Balance.
  5. Click Run report.

 

These steps ensure the displayed report is synced to your QBO data. Then, you'll see the correct net balances for each transaction.

 

Alternatively, you can consider running a General Ledger report filtered to the class and accounts you prefer. Here's how:

 

  1. On the left menu, head to Reports.
  2. Search and open General Ledger.
  3. Click the Customize button.
  4. Select the Filter drop-down.
  5. Enable the Class and Account filter, or choose your preferred filters.
  6. To show the same columns with the provided report, go to the Rows/Columns drop-down and click Change columns.
  7. Select and reorder columns by your preference.
  8. Click Run Report.

 

By running the General Ledger report, you'll see the correct amount increase or decrease depending on the transactions. The image below is an example showing the accurate calculation of the amounts.

 

After that, you can memorize the report so you can access it easily in the future. Additionally, you can also email your memorized reports on a recurring schedule in QuickBooks Online.

 

Let me know if you need help memorizing reports or any other report-related concerns in QuickBooks Online. I'm always available to help.

T
tlandis_ksuAuthor
February 3, 2025

Thank you for the information. I re-ran the Profit and Loss by Class and was able to get the correct outcome. However, when I clicked on the net amount to drill deeper, I couldn’t reorganize the data by date. QBO kept it separated by account. I need to see when the net hits zero. The GL report only allows you to select balance sheet accounts, but I need income statement ones – not helpful. Desktop reports were very flexible and reliable. Unfortunately, I don’t have the same level of confidence in the ones that I pull from QBO.

A
AnneMariee
February 3, 2025

The ability to drill down reports accurately and reorganize your data to meet your needs is crucial for effectively managing your finances and seeing when the net amount hits zero, tlandis_ksu. Let me provide more information on how QuickBooks handles this data and possible solutions to your concerns.

 

Currently, QuickBooks Online organizes the drilled-down data by account, and it doesn't have the option to reorganize this data by date directly within the report details. I recognize how this limitation can impact your workflow, especially given your need for more flexible and reliable reporting, which you experienced with QuickBooks Desktop.

 

That said, I encourage you to submit feedback directly to our product development team, suggesting enhancing report flexibility in QuickBooks Online. Feedback from customers like you helps us better understand user needs and improve our services and features. I'll list the steps below on how you can do it.

 

  1. Head to the gear icon.
  2. Under Profile, select Feedback.
  3. Enter your product suggestions.
  4. Click Next to submit.

 

As a workaround, you can export your data to Excel to further manipulate and reorganize it by date. Here's how:

 

  1. On the left navigation panel, go to Reports.
  2. Run a report.
  3. Click the export icon.
  4. Select Export to Excel.

 

For additional help and details about generating and customizing reports, you might find the following articles useful:

 

 

Additionally, to save time in the future, you can save your custom report settings. Here's a handy article on how to do this: Save a customized report in QuickBooks Online.

 

Feel free to holler if you have other concerns about running reports in QuickBooks. We're continuously striving to enhance our features, and your feedback plays a vital role in these improvements. Thank you for your patience and understanding and for helping us improve QuickBooks.

BigRedConsulting
BigRedConsulting
February 1, 2025

RE: We switched from QuickBooks Desktop to QBO this year and there are a number of things that don't work as well as Desktop did, particularly with respect to reporting.

 

Yes, you are correct.

 

And that may be the understatement of the century! 

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