Here's a little secret...
It is possible to track profit and loss by department, line of business, cost center, location or other methodology in QuickBooks - you just have to turn on the "class" feature to make it work (this is found in the accounting preferences section).
Once you turn on the "class" feature, you then have the opportunity to create your desired groupings for the profit and loss report.
In order to make it all work properly, it is essential that you code each transaction (invoice, check, bill, etc.) with the proper class(es).
Assuming that is being done, creating a profit and loss report by class is a snap. Click Reports > Company and Financial > Profit and Loss by Class. You'll see a report that looks like this (click the image for a larger view):
In this example, this particular business has opted to track their profit and loss by: automatic pool systems, manual pool systems, custom pool systems and other categories.
Just substitute the profit and loss breakdown you envision for the classes shown in this example, and you'll get the profit and loss report you're looking for!
Need help sorting out this (or other) issues with your QuickBooks?
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