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March 6, 2024
Question

Profit and losses are not showing vehicle loan payment, where can I enter the information for it to show

  • March 6, 2024
  • 1 reply
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1 reply

DivinaMercy_N
March 6, 2024

Hello there, jsantana.

 

The vehicle loan payment will not show on the Profit and Loss report since this is linked to a liability account. The report only shows entries that affect your net profit such as those linked to income and expense accounts. For instance, the interest and fees that are included when paying the loan.

 

The Balance Sheet report, on the other hand, displays this information. You can run this instead to see your vehicle loan payment. Here's how:

 

  1. Select the Reports menu.
  2. Next, enter Balance Sheet in the Find report by name field.
  3. Set the correct report period based on when the payment is recorded.
  4. You can also add additional customization by clicking the Customize button.

 

To further help you record the payment for your vehicle loan, feel free to check this article: Record the loan for an asset in QuickBooks Online.

 

Additionally, you can also record the depreciation of your vehicle asset using a journal entry in QuickBooks Online (QBO): Depreciate assets in QuickBooks Online.

 

I'm just around the corner to help if you have other concerns running your profit and loss report or any other queries about managing loan payments. Don't hesitate to leave a reply below. Have a good one and stay safe.