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BethR_Ballentine
August 10, 2023
Solved

Profit and Loss Report by class

  • August 10, 2023
  • 1 reply
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How do I run a profit and loss report by class in Quickbooks Online?  I need to run a report for each class as well as a summary report showing each of the classes.

    Best answer by LollyNino_C

    I appreciate you for posting here in the Community, Beth.

     

    I'm here to lend a hand with running Profit & Loss by Class report in QuickBooks Online (QBO).

     

     

    1. Go to the Gear icon (⚙) and select Account and Settings.
    2. Choose the Advanced menu and then select the Categories section to edit.


       
    3. Click the Track Classes button to turn this feature on. 
    4. Under Assign classes, select One for the entire transaction or One for each row in a transaction.
    5. Select Save, then Done.

     

    Once done, go to the Business Overview group of reports, then run Profit and Loss by Class. Modify the reporting period to a specific month. Click Run report.

     

    You may want to check this article about running a report by class to review the transactions: Run reports by class.

     

    Furthermore, learn how to filter information so you'll get the information you need most for your business. I've added this article for your reference: Customize Reports In QuickBooks Online.

     

    If you want to export your report to Microsoft Excel in the future, here's a detailed guide you can check: Export your reports to Excel from QuickBooks Online.

     

    If you have any questions about QuickBooks reports, I am here to assist you. Simply click on the Reply button, and I will respond promptly. Take care always.

    1 reply

    L
    LollyNino_CAnswer
    August 10, 2023

    I appreciate you for posting here in the Community, Beth.

     

    I'm here to lend a hand with running Profit & Loss by Class report in QuickBooks Online (QBO).

     

     

    1. Go to the Gear icon (⚙) and select Account and Settings.
    2. Choose the Advanced menu and then select the Categories section to edit.


       
    3. Click the Track Classes button to turn this feature on. 
    4. Under Assign classes, select One for the entire transaction or One for each row in a transaction.
    5. Select Save, then Done.

     

    Once done, go to the Business Overview group of reports, then run Profit and Loss by Class. Modify the reporting period to a specific month. Click Run report.

     

    You may want to check this article about running a report by class to review the transactions: Run reports by class.

     

    Furthermore, learn how to filter information so you'll get the information you need most for your business. I've added this article for your reference: Customize Reports In QuickBooks Online.

     

    If you want to export your report to Microsoft Excel in the future, here's a detailed guide you can check: Export your reports to Excel from QuickBooks Online.

     

    If you have any questions about QuickBooks reports, I am here to assist you. Simply click on the Reply button, and I will respond promptly. Take care always.

    L
    Lwcc
    February 22, 2024

    Hi LollyNino-C,

    I have followed your instructions to the letter and I'm unable to generate a Profit & Loss by Class report that actually has data in it based on the activity (income/expense) for that class. What am I doing wrong?

    S
    ShyMae
    February 22, 2024

    Hello there, @Lwcc. I'm here to ensure you can generate a Profit & Loss by Class report showing its data.

     

    Before anything else, please know that the class tracking is only available in QuickBooks Online Plus and Advanced. Once you turn on the feature, you can assign classes to your transactions and pull up the Profit and Loss by Class report. 

     

    I've attached a screenshot for visual reference. 


    For the report to display accurate data, it's crucial that the transactions are assigned to a class and that the reporting period is selected accurately. 

     

    Please note that the Profit and Loss report shows income and expenses only, so if the product and services are assigned to a liability account, the transaction will not appear in the report. You'll need to manually correct your product and services account. 

     

    Additionally, you can pull up the Profit and Loss Detail report to see a detailed view of all your income and expenses transactions by class. 

     

    See the attached screenshot for visual reference. 



     

    Furthermore, you can print, email, and export the reports you've pulled up to save them for future reference.

     

    Moreover, I'll add some articles that contain valuable insights and tips that can help you get the most out of the QuickBooks Online class tracking feature: 

     

     

    Whenever you need my assistance regarding the profit and loss report and class tracking feature, I'm here to back you up.

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