When you run the Profit and Loss Standard report in QuickBooks, you get one column of results. This column could be the figures for a given. Often, I see the question “how do I create a monthly Profit & Loss Statement in QuickBooks”. I thought I'd write a quick post to show you how to. The QuickBooks reporting menu provides several pre-configured reports to help you with the process of creating your profit and loss report, also known as an.
Quickbooks profit and loss report by month - are not
Profit and Loss Class by Month Report
Not sure this is possible without jumping through hoops.
I understand filtering and sorting reports. However what I need is a Profit and Loss report that will take classes and report them on the left hand side of the report (Rows), under their Parent Income/ Expense Account and the months at the top (Columns).
Not sure this is possible. Perhaps I'm just missing a basic report or even if there is a way to do this in advanced reporting.
What I do not want to do, but will if I have to, is create sub-accounts under my income account and instead of classifying my entries, I'll just record them to the sub-account. It wouldn't be really good accounting as I'd be using accounts for classes.
As an example: I have one income stream - so that's easy - so one account - let's call it 4000 Sales. However, I have 6 different methods of accepting payment for that income. Now one would argue, why is it important to track how the money came in. In this client's case, it's very important as it dictates which method of payment they will continue to use, such as Square, PayPal, Beyond, Checks, Cash, etc... Again, I could create 4000-01 for Cash, 4000-02 for Checks, 4000-03 for Square, etc... One could also argue that each of these are a balance sheet account and therefore you would run a balance sheet report by month. However, doing this gives me the account balance as of that month and not just the amount that transpired in that one month. I know I'm making this difficult to understand and perhaps what I am asking for is way too advanced for a canned program. I'm hoping I'm just missing something that is found perhaps in a "Pro" or "Enterprise" version of QB if not in all versions.
As always, Thank you in advance for your help in this mater.