 QuickBooks Desktop 2023 income and expense graph let's do it within two it's QuickBooks Desktop 2023 support accounting instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category further broken out by course each course then organized in a logical reasonable fashion making it much more easy to find what you need then can be done on a YouTube page we also include added resources such as Excel practice problems PDF files and more like QuickBooks backup files when applicable so once again click the link below for a free month membership to our website and all the content on it here we are in QuickBooks desktop sample rock castle construction practice file provided by QuickBooks going through the setup process we do every time maximize on the homepage to the gray area view drop-down noting we got the hide icon bar open windows list open open windows on the left hand side we got the reports drop-down company and financial looking at the P and the L the profit and the loss ranging to the change in from 010124 to 1231 to 4 January to December 2020 for customize that report with the fonts and the numbers so we can change those fonts on up to 12 okay yes okay reports drop-down one more time for the other major financial statement report the balance sheets so we could change the range to the fiscal year 1231 to 4 customize it on the fonts the numbers the 12 the okay yes and okay you did that way too fast I know it's because we do it every time that's what we do every time these are the major to find financial statement reports all other reports pretty much giving some more information upon one or multiple major line items on these two reports we have here this time we're gonna be taking a look at some graphs that will be supporting the data on the profit and loss those are going to be the income and expense graph so I'm gonna collapse some of this stuff here so I could see my income and the cost of goods sold and the expenses so there's our major income statement categorization let's go to the reports up top and we're gonna go down to the company and financial we can find this graph down here income and expense graph or we could go into the report center and find it there too let's do that as well of report center up top maximize into the gray area I just scroll on down till I see a graph I'm in the company financial spot by the way and so we're gonna see where's a nice pretty graph there there's one look at that it's beautiful let's open it up and check it out shall we let's first change the date range up top so we got the dates let's make this from 010124 to 123124 to be matching our income statement report this is gonna give a supplemental added information on some line items on the income statement so as we saw with some other graphs what we kind of like to do is be able to say okay I could use this graph I could add this graph to say my year-end or month-end summary reports to my supervisor or possibly to a book keeper or something like that I would also like to make sure I know where the numbers come from so I can at least explain what is going on with the graphs and then I might want to consider being able to use the subsidiary reports or any reports that the data is being pulled from to make these kind of graphs in Excel now this one has a little bit more options so there's a couple different options we can play with so let's bear with me as we go through them we got two items down below which are income and expenses those being the two main categories of the income statement income minus expenses being the net income so and then up top we've got by account by customer by class so if I'm on by account and I'm on the income side of things that's going to be listing out over here our income accounts if we're on the expense side of things and we're in by account then it's going to give us our expense accounts on the right hand side if we go to buy customers up top that doesn't really make sense for the expense side of things because customers are not who we typically sell to right so it's going to be the income side of things broken out by customer then and then we've got by class which would only be applicable if we've got class tracking turned on which is kind of a specialty type of area all right let's go through those again we're going to go to buy account we're going to go to the income side of things here's the income it comes down to 455 130 36 if I go to the income statement then where's my income statement profit and loss then we're at on the income up top 454 657 14 so note like with the sub ledgers that we took a look at if we don't use it's possible for our income to be different than the sub ledger more so than some other sub ledgers for example the accounts receivable will typically always tie out to the receivable by customer reports because QuickBooks kind of forces us to do that remember that if when we enter data into the system and the homepage if I don't enter my income with an invoice and the sales receipt then it can throw off my sub ledger reports and they can throw off these graph reports so just keep that in mind if there's a difference that's probably where it's coming from possibly you entered something into income with a deposit form or had a journal entry or something like that all right so if we go back to the income statement then we've got our income accounts noting that the income accounts will typically be not as many there's more income accounts here than you might see in many companies because of the nature of this being a job cost construction type of company but typically we have a limited amount of income possibly an income line item saying for the things we sell like inventory sales line item for income and possibly services line item for income and then everything else we're going to break out in the sub reports if we're doing a full service kind of accounting system in other words we resist the urge to break things out on the income statement by customer we don't want income statements per customer we don't typically want income statement per item inventory item or service item maybe the groups of the large groups of items on the income statement because again we can get that detail on the sub ledger so usually if you're breaking this report out by by income account you usually don't have that many of them it might not be the most relevant but report but it could be a nice report so then you've got your percentages over here obviously the main income account by account is going to be the construction income so that makes sense so I think it's all it's also just taking the parent accounts so if I go back on over here then we're taking the Bart the income barter income construction income reimbursement income and it looks like it's taking possibly other income down below these being the other income categories that aren't part of our normal kind of major business care major business setting items that's why they're down here in the other section so if you wanted to do this on your own and make your own pie chart based on account wouldn't be too difficult to do usually you could just basically type these numbers into excel for example however for your income line items which could actually then tie out to what is on your income statement and then just highlight those sales and make a pie chart which will give you a lot more flexibility if you wanted to do it that way so if I go back on over and then we say okay there's the income by account let's go to the expenses by account so that adds up to the three three five nine seven five seven two if I go back to the profit and loss and check that out that's going to be here because we have cost a good sold which kind of confuses things that's a major expense so that's the cost of a selling inventories one eight oh two four one two four point one nine plus the other expenses one five five eight five one point five three gives us the three three five nine seven five so if I go back here then that ties out exactly there so there's our expense accounts broken out so once again on the expense side of things this could be a more useful kind of grouping for the charts because typically we're going to have more types of expenses and I think again that they're using the parent accounts instead of the sub accounts so I don't think they have fuel insurance just the auto mobile here so let's just check that out so here we've got job insurance automobile yeah I think they're just taking the parent accounts and not the sub accounts so but if we go to the profit and loss there's going to be a lot more categories for the expenses even though remember we're not listing the expenses out by who we paid we're not saying for the automobile that we paid you know mobile gas or anything like that we're saying it's going to go into automobile or possibly more generally the fuel what we used it for in these categories but because of course in a business we're concentrating on one thing that we do for other people and and we only concentrate on one thing we specialize or something or a few things and then everything else we're gonna we're going to pay for right so that's why there's gonna be different cat much more categorizations of expenses that we're paying for in order to keep the business in motion so a pie chart based on the expense categories could be good or we can have the sub ledger categories for the expenses in a similar way we had with the income breaking out them outflow the expenses by who we paid by vendor for example so let's go back on over and say I keep talking to the wrong one get to the right one so that's that one and then we've got the customers up top and and obviously just to if we want to create this yourself then you can export the profit and loss or you can export the trial balance I could work as well and then you just trim down just the expense categories and you could do it like they're doing here where you're just using the parent accounts maybe you want to see all accounts in the pie chart however so then you can filter out in Excel the all the all the accounts instead of just the parent accounts which means you'd have to delete all the subtotals and so on and once you have that listed you can sum up the total which should sum up to the same total here and then just highlight it you know order it from top greatest to least and then highlight it and make a pie chart and again you have a lot more flexibility to do that because then you could group this you can group the top 10 you can group the top 7 accounts put all the other stuff in other like we did before we won't do this again in Excel but just note you can do it in Excel fairly easily and you have a lot more flexibility if you were to do it in Excel alright so let's go back on over wrong one wrong one for crying out loud get it right customer center so on the customers this only works on the income side of things so now we're breaking this out by customer which I believe we saw in another report already so we're trying to get those income items that are broken out by customer with this one so I think we have another graph that actually focuses in on that already and then we got by class here if you got the class tracking turned on now up top you've got this kind of comparative graph that is comparing the income and expenses this is something also that you could basically try to do and you could do in Excel it's a little little bit more complex because now you got two things going on in the same graph but not too too difficult to do you could go into the income statement you can export the profit and loss or possibly export a trial balance which doesn't have all of the subtotals and then you could you could sum up the income items and then you could sum up the expense items and then you could basically create a chart with both of those bars on you know the same chart and construct something that that looks like this has like a side-by-side kind of comparative type of chart this one's broken out by month that could be a little bit more you know you can detail to get into you have to determine how are you going to be doing that you can look you can research that in Excel we won't get into Excel to jump into that but again something that's totally doable in Excel and if you were to do it in Excel you can make the pie charts different colors you can not have this this this 3d kind of thing and so on you can have different formats of the bar charts as well you can adjust the X and Y axes as you see fit if you were to do these kinds of things and Excel it also really helps your Excel skills and it helps you to be able to explain what the chart is doing because remember people have a tendency to put these nice charts in to reports and especially in a presentation you would like and be want to be ready for a question saying well what does that chart mean and so that you can you can answer those questions