Profit and Loss Reports

How to show the profit and loss reports for the past 3 or more years?

It is very easy to run historical financial data in new QuickBooks.

From the home page screen

  • Go to the blue navigation bar on the left
  • Select Reports
  • Go to report (magnifying glass) and type Profit and Loss
  • Select “Profit and Loss” from the drop down selection
  • Select “Customize” button
  • Go to “Transaction Date” change date from and to (for example for past 3-yr = 1/1/2011 to 12/31/2013)
  • Go to “Rows/columns” and change Columns to “Years”
  • Select Run Report button

If you need “DETAIL” behind those summary numbers, click amount. That will give Detail Transaction Report

Qatar Airways NY

Profit and Loss Reports

I need to track revenues and expenses across multiple lines of business. Does QuickBooks Online Plus support profit and cost centers?

You can establish Profit and Cost Centers by enabling Class tracking feature in new QuickBooks Online Plus.

To enable Class tracking feature:

  • From the Home page screen
  • Select the Company Gear (top upper corner)
  • Select Company Settings under Settings header
  • Select Company
  • Select/Double Click to enable “Track Classes On” under Categories
Class Tracking
Class Tracking
Customer Job costing Profit and Loss Reports

Can you run Profit and Loss per Customer Invoice in new QuickBooks Online?

t would be really nice if you can get PnL by invoice or Pnl by product item. At this time, new QuickBooks Online Plus can not provide with such financial report. No such reports are available even though certain cost exist data may already in the QBO file.

If you are selling inventory items and costs are fixed (not variable costs), you can create sub-customer per invoice and may be able to get the PnL by Invoice. Again, I am stretching a little bit here since today’s QBO is designed for job cost, product cost or whatever costing method you want to use.

For non-inventory selling business or servie type selling business, no can do in today’s QBO.