Income not showing on P&L Statement

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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Best Answer

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

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    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.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • volvogirl
    volvogirl SuperUser ✭✭✭✭

    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
    Jbirkes Member
    My income categories all have tax lines identified as "other income" but still they don't register.
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    They have to have tax lines as schedule C to show up as Business


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