Bookkeeping Tip for Office Staff: How to Run a Profit and Loss Report in QuickBooks Online
If you’re an office manager, assistant, or part of a small business team that handles finances, knowing how to run a Profit and Loss (P&L) report in QuickBooks Online (QBO) is a crucial skill. This report gives your team insights into how the business is performing—what’s being earned, what’s being spent, and how profitable things really are.
How to Run a Profit and Loss Report in QuickBooks
Log into QuickBooks Online
Click the Reports tab
Choose Profit and Loss
Customize the date range (monthly, quarterly, or custom)
Click Run Report
You’ll now see a breakdown of total income, expenses, and net profit.
Why It’s Important for Office Teams
✅ Helps leadership track business performance
✅ Allows teams to flag unusual expenses or revenue drops
✅ Supports accurate reporting during tax season or for decision-making
✅ Makes it easier to prepare monthly financial summaries
Whether you’re prepping for a team meeting or sending reports to your accountant, understanding the P&L keeps you one step ahead.
Best Practices for Office Teams
Review the P&L monthly to catch any issues early
Ensure bank and credit card accounts are reconciled first
Track recurring expenses (like software or supplies)
Communicate any odd entries to your business owner or bookkeeper
Common Mistakes to Avoid
🚫 Waiting until year-end to run reports
🚫 Choosing the wrong date range
🚫 Ignoring small, repeated charges that add up
🚫 Not double-checking categories before running reports
FAQ
Q: What’s the purpose of a Profit and Loss report?
A: It shows your company’s income, expenses, and profit over a selected time period.
Q: Can I access this report on QuickBooks Mobile?
A: Yes! The QuickBooks app supports reports on mobile.
Q: What if my report doesn’t seem accurate?
A: Check for uncategorized or duplicate transactions and make sure accounts are reconciled.
Q: I’m not an accountant. Can I still do this?
A: Absolutely. This is one of the easiest and most helpful reports for non-financial staff to learn.
📞 Need support with QuickBooks or want training for your office staff?
Book a free call with Dr. Bryan Raya, QuickBooks ProAdvisor
👉 https://calendly.com/dbr_bookkeeping/book-a-free-call-with-dbr
Let’s start Doing Business Right.
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