I'm here to ensure you can achieve your desired data, @Cmccourt.
You can specify the income and expense accounts assigned to the products or jobs you sell. Once they are assigned to a transaction, the income or expense amounts will go directly to the specific accounts linked to them. Let me guide you how:
- Sign in to your QuickBooks Online (QBO) account.
- Then, select the Sales tab.
- Choose Products and services.
- Locate the product or job you want to update and select Edit.
- From the Income account drop-down choose the sales account you want. Select also the specific account under the Expense account field.
If you want to create a new account for categorizing your sales and expenses, see this article for the detailed guide: Add an account to your chart of accounts in QuickBooks Online.
Then, to monitor the profitability of your business over a specific period, you can run the Profit and Loss report. Here's how:
- Select the Reports menu.
- Then, scroll down to the Business overview section.
- Click Profit and Loss.
Also, QBO has a compilation of how-to videos that will further guide you in optimizing your navigation. It includes tutorials from setting up a company to running payroll for your employees.
Stay in touch if you need additional assistance in separating your funds in QBO. Please leave your response below. Have a good one.
