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Papayatutor
May 1, 2024
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How to utilize different detailed records in the Profit & Loss report for the current month and thereafter.

  • May 1, 2024
  • 2 replies
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I want to change the names of data records in the Profit & Loss starting from this month, and how would it affect previous months? What's the best way to do it?

Best answer by Carneil_C

Thanks, I can add another account name, for example "Co Leader Ops" as an Operating cost  expenses?


Yes, you can add another account, @Papayatutor. I'm here to guide you through the steps in QuickBooks Online (QBO).

 

Adding additional accounts lets you track different transactions at any time. Here's how:

 

  1. Go to the Gear icon and select Chart of Accounts.
  2. From there, click New.
  3. Enter an Account name.
  4. Choose an Account and detail type from the dropdowns.
  5. Fill out the details needed.
  6. Click Save once done.

 

Moreover, please know that we have usage limits for the number of accounts allowed for your current QuickBooks plan. To learn more about this, check out this article: Add an account to your chart of accounts in QuickBooks Online.

 

In addition, you'll want to keep your chart of accounts organized by following the detailed steps in this reference: Create subaccounts in your chart of accounts in QuickBooks Online.

 

You can add your reply in this thread again if you still have more issues managing your accounts and reports in QBO. We're always here to help.

2 replies

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JanbonN
May 1, 2024

It's always best to input a note or reminder before changing any information in your QuickBooks account, @Papayatutor. This ensures that you have a record of the change for tracking purposes.

 

It's important to note that changing the name of an account in the Chart of Accounts will also change any records associated with that account. If you want to proceed with the change, here are the steps you should take:

 

  1. Go to the Gear icon and choose Chart of Accounts.
  2. Navigate to the account you want to edit. In the ACTION column, click the dropdown and select Edit.
  3. A window will pop up with the account's details. In the Account name field, type in the name you want to replace it with. Then, input a note beside the name like (previously [accounts name]).
  4. Click Save.

 

Additionally, you can memorize your reports to keep the changes you've made for future use.

 

Please return to this thread if you have further concerns with your data records in QuickBooks. We'll be here to help you in any way we can.

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PapayatutorAuthor
May 1, 2024

What I actually need is in the Profit & Loss report (attached excerpt), to change or add for example: "Freight in" to "Session Manager intern" or add for example: "Co Leader Ops". Is this possible? Can the entries for past months remain as they are?  Please your advice...

 

 

 

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Ethel_A12
May 1, 2024

Yes, you can change the name of the account, @Papayatutor.

 

You need to change it from the Chart of Accounts.

 

Here's how:

 

  1. From the left menu, select Transactions.
  2. Choose Chart of Accounts.
  3. Look for the account that you want to change, then click the dropdown arrow and choose Edit.
  4. Modify the Account name.
  5. Click Save.

 

You can then run a Profit & Loss report.

 

For future reference, you can read this article to help you customize your reports, so you'll be able to add or change columns: Customize reports in QuickBooks Online.


Let me know if you have questions about changing the name of your accounts. I'm always here to help. Have a great day.

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PapayatutorAuthor
May 1, 2024

Thanks, I can add another account name, for example "Co Leader Ops" as an Operating cost  expenses?

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