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Income not showing on P&L Statement

Jbirkes

I set up a new business file and recorded all transactios to date. When I do a P&L statement the income does not show, only a zero for income. Any suggestions what to check?

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Accepted answers

Jbirkes

I went back, redefined the tax status as Schedule C, and that solved the problem. thanks for all the feedback.

All comments

NotACPA

Have you assigned BUSINESS tax lines to all of your business oriented categories and sub-cats?

Q doesn't understand the account or category names that you use, and SOLELY uses the tax line assignments to determine what is a "business" income or expense.

Also, did you include all of your accounts? As "business" transactions can, in Q, appear in any account.

volvogirl

To check the tax line assignment open the Category list by either clicking on the Category Icon or go to Tools-Category List or Ctrl+Shift+C. Then select the category and right click on it to Edit it. Click on the Tax Reporting Tab and check the box for Tax related and pick a Schedule C: tax line item.

Jbirkes

My income categories all have tax lines identified as "other income" but still they don't register.

volvogirl

They have to have tax lines as schedule C to show up as Business

Jbirkes

Thanks for your responses. My income categories do have Schedule C tax lines. Interesting, they show up on the cash flow reports, but not on the P&L.

Jbirkes

I went back, redefined the tax status as Schedule C, and that solved the problem. thanks for all the feedback.