My P&L statement is inflated with Sales Receipts being counted as Profit. How can I exclude sales receipts from the P&L report?

Hello there, Brian.

I understand you’re concerned about your Profit and Loss (P&L) statement being inflated. Let's me provide you more insights about this in QuickBooks Online (QBO).

QuickBooks Online doesn't provide a direct method to exclude sales receipts from the P&L report entirely, as all sales, whether from invoices or sales receipts are generally included in revenue calculations. However, there are a few strategies you can implement:

• If the receipts are not legitimate or should not contribute to your revenue, consider adjusting or deleting them.
• If you frequently need to differentiate between sales from invoices and sales receipts, consider creating a separate income account:
  • Head to Accounting, Chart of Accounts and click New.
  • Choose Income as the account type and name it something like Sales Receipts Income.
  • Edit the sales receipts to reflect this new income account. This way, when you run your P&L report, you can exclude or adjust for this new account as needed.
  • Customize the Profit and Loss report to filter the Distribution Account, excluding the Sales Receipt Income.

Additionally, you can also consider memorizing your report to access them easily in the future.

If you require further assistance or have more questions about reports, feel free to drop them below. I'm always here to assist you.

RE: two sales reciepts have snuck into the P&L report inflating it. 

All sales receipts should (and will) appear on the P&L report. They're sales.