I am running into a problem and am hoping someone can help me before I go mental. None of the blogs / articles have been able to help.
QBO Version: Advance
Our company has a 100 clients. We have 5 partners.
Each partner is a class.
Our partner will some times hold special events which require special tracking. For example, we host a promotion in 2022 but it is for a 2023 event.
My goal is to be able to create the following reports: P&L by class and P&L by Events
- We tried to use “Projects” however, it assumes income comes from one client (we have a 100 clients)
- We tried to use “Tags”, “Location” & “Custom Fields” however, it assumes the transaction is all one partner or vendor (expenses are sometimes divided amongst several partners.)
- We tried to use “Subclasses”, however, the Income Statement does not have the option to nest the children to the parent.
Am I going about this the wrong way? Is there a third party app you can recommend?
*edited to add “custom fields”
Update: From QBO Community
Thanks for laying out the details of your concern. I’m here to lay out some insights to ensure you can achieve your goal and get back to business in no time.
Yes, we can run a Profit and Loss by Class report in QuickBooks Online. However, running a Profit and Loss by Event isn’t possible.
As a workaround, consider exporting the Profit and Loss report and then modify it from there.
Otherwise, this would be a great time to send this feedback to our Product Development Team. The more requests this gets, it is likely to be part of the QBO’s future enhancements. I’d be glad to show you how:
Click the Gear icon and choose Feedback. Enter your feedback Suggestion. Press Next.
To track the progress of your feature request, feel free to visit our Feedback forum.
Also, I’ve added these great resources that’ll help you in modifying your reports based on the data you need:
Keep in touch if you have any other questions or concerns about reports or want to share your best practices using the product. I’ll be around for you. Enjoy the rest of the day.
Go to Source of this post
Author Of this post: /u/tihemo