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pennees
June 16, 2024
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Profit and loss by class using sales rep

  • June 16, 2024
  • 2 replies
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We use Quickbooks Accountant desktop. We use classes and subclass to track our jobs revenue and expense. For customer invoicing we use the "rep" field to track the sales person.

How can we run a profit and loss by class using the sales rep and see all revenue AND expense for the class?

 

I bolded the information so it's more understandable.

Thanks 

Pennee

Best answer by JenoP

Thanks for getting back here with additional information about what details you need in the report, Pennee.

 

The sales rep feature in QuickBooks is primarily used to track the performance of your sales team. You can assign a rep when creating invoices and other sales transactions.

 

However, there's no option to assign it to expenses. This is why you can only see the revenue or sales details when customizing reports to show the rep by class.

 

For a more in-depth understanding of how QuickBooks produces data when generating reports, you can find additional explanations and details in this article: Understand Reports.

 

Since we're unable to include everything in a single report, you'll want to run the Sales by Rep report, Profit, Loss by Class, and any expense-type related reports separately. Then, export them to Excel so you can combine the report using Excel's function.

 

This will allow you to then combine the data from the other reports using Excel's functions and formulas. This way, you can get a comprehensive view of the sales and profitability data by bringing the information together in a single Excel workbook.

 

I'd be glad to show you how:

 

  1. Open the report that you want to export.
  2. Click the drop-down list beside Excel ▼, then select Create New Worksheet. 
  3. If you see a message that says your report has too many columns, select Advanced, then uncheck Space between columns.
  4. Select OK, then click Export.

 

I'd also like to share these articles in case you need additional resources when doing similar tasks in QuickBooks:

 

 

If you have any further questions about analyzing sales performance or running reports in QuickBooks, please don't hesitate to come back and ask. The entire QuickBooks Team is always available to assist you.

2 replies

A
Anonymous
June 16, 2024

I appreciate you laying out the details for your concern. Let me provide some insights on how to run a profit and loss report by class using sales rep in QuickBooks Desktop (QBDT), @pennees.

 

We can customize the Profit and Loss by Class report and use the filter option to limit report data by selected criteria (rep). Since we can't see the sales rep and class in the column together.

 

Here's how:

 

  1. In your Profit and Loss by Class report, click on Customize report.
  2. From there, select on Filters option.
  3. Enter rep in the search bar, then select the specific sales representative.
  4. Once done hit on OK button.

However, if you want to see both the sales rep and class in the column we can utilize another report, particularly the Sales by Customer Detail.

 

Here's how:

 

  1. Go to the Reports menu, then hover your mouse to Sales, then click on Sales by Customer Detail.
  2. Click on Customize report, then enter rep in the search bar and put a checkmark, also enter class then put a checkmark.
  3. Once done hit on OK button.

 

Moreover, you can visit these helpful articles for future help on understanding basic reports and customizing them in QuickBooks Desktop:

 

 

Feel free to return to this thread for further assistance with managing your reports on QBDT. I've got your back.

P
penneesAuthor
June 16, 2024

Thank you for your response. I tried to be clear in my description of what we are hoping for:

How can we run a profit and loss by class using the sales rep and see all revenue AND expense for the class?

We want to see the Class (job number for performance in our case) and show the class by Rep, so that the CFO can run one report "Profit and Loss by Class" and see the jobs for a chosen rep with income, expense, and net income. 

When we run the profit and loss by class, then customize using the Rep, we only see the revenue (sales) for the rep by class, we cannot see the expenses and net income. Even the report Sales by Rep does not include the expense and net income.

I would appreciate it if someone knows how to accomplish both Rep, Revenue, expense, and net income in one report for Profit and Loss by Class.

Thanks

Pennee

JenoP
JenoPAnswer
June 16, 2024

Thanks for getting back here with additional information about what details you need in the report, Pennee.

 

The sales rep feature in QuickBooks is primarily used to track the performance of your sales team. You can assign a rep when creating invoices and other sales transactions.

 

However, there's no option to assign it to expenses. This is why you can only see the revenue or sales details when customizing reports to show the rep by class.

 

For a more in-depth understanding of how QuickBooks produces data when generating reports, you can find additional explanations and details in this article: Understand Reports.

 

Since we're unable to include everything in a single report, you'll want to run the Sales by Rep report, Profit, Loss by Class, and any expense-type related reports separately. Then, export them to Excel so you can combine the report using Excel's function.

 

This will allow you to then combine the data from the other reports using Excel's functions and formulas. This way, you can get a comprehensive view of the sales and profitability data by bringing the information together in a single Excel workbook.

 

I'd be glad to show you how:

 

  1. Open the report that you want to export.
  2. Click the drop-down list beside Excel ▼, then select Create New Worksheet. 
  3. If you see a message that says your report has too many columns, select Advanced, then uncheck Space between columns.
  4. Select OK, then click Export.

 

I'd also like to share these articles in case you need additional resources when doing similar tasks in QuickBooks:

 

 

If you have any further questions about analyzing sales performance or running reports in QuickBooks, please don't hesitate to come back and ask. The entire QuickBooks Team is always available to assist you.

D
drmendbone
September 14, 2024

I am the treasurer of my Rotary club.  I do a lot of invoicing which people will pay online or they may send checks in.

 

My problem is that when I then credit the payment to the invoice, the bank deposit also will get classified as uncategorized income.  When I do my profit loss statement it will then show twice the income, that from the income of the invoice and then from the bank deposit.

 

I am not sure how I prevent that from happening

 

Thank you in advance

A
Anonymous
September 14, 2024

I can help you correct the Uncategorized Income to the correct account in QuickBooks Desktop (QBDT), @drmendbone.

 

The first thing is to ensure that when you receive a payment, you match it to the corresponding invoice. This way, QuickBooks will recognize it as a payment against an invoice rather than a new income.

 

Here's how:

 

  1. Sign in to your QuickBooks Desktop company file.
  2. Go to the Banking menu and select Make Deposits.
  3. In the Payments to Deposit window, select the payments you want to deposit and click OK.
  4. In the Make Deposits window, ensure that the From Account field is set to Accounts Receivable.

 

The second thing is to categorize the deposits correctly. If deposits are already recorded, you can reclassify them to the correct account. Follow these steps:

 

  1. Go back to your homepage, then go to the Banking menu and select Use Register.
  2. Choose the bank account where the deposit was made.
  3. Find the deposit transaction and double-click to open it.
  4. Change the Account field from Uncategorized Income to the correct income account or Accounts Receivable.

 

The next thing is to check your Chart of Accounts. Make sure that your income accounts are set up correctly. Lastly, you can Run reports to verify. After making the changes run your Profit and Loss statement again to ensure that the income is not double counted.

 

Moreover, you can use this article for your future reference about reconciling accounts in QuickBooks Desktop. It has complete instructions to ensure everything is properly recorded. 

 

If you have any other additional concerns regarding uncategorized income or any other concerns in QBDT, please add them below. I'll be sure to get back to you to help.

D
drmendbone
September 22, 2024

This seems like a good explanation but I'm still not clear how to do it.  I have a merchant services account for our invoicing etc.

 

Is there a way I can schedule online help with you?

 

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Treasurer, Homestead Rotary Club

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