QuickBooks Online Event VI – Profit and Loss Reports
Duration: 1 Hour
Level: Beginner
Format: Live Human Online Event with Guided Demonstrations
Environment Used: Intuit QuickBooks Online Test Drive (Accountant View)
Event Schedule (1 Hour)
Welcome & Concept Review
How income and expenses differ from balancesTopic 1: What the Profit & Loss Report Shows
Understanding business performance over timeTopic 2: How QuickBooks Online Builds the Profit & Loss
Income, cost of goods sold, and expensesTopic 3: Live Demonstration
Reviewing and customizing the Profit & Loss report in Accountant ViewWrap-Up, Q&A & Next Steps
Event Description
QuickBooks Online Event VI focuses on the Profit & Loss (P&L) report, the primary report used to evaluate how a business is performing over a period of time. This live session explains what the P&L shows, how it differs from the Balance Sheet, and why it’s essential for decision-making.
Rather than viewing the P&L as just a summary, this event emphasizes how transactions drive results. You’ll see how sales, costs, and expenses flow into the report and how changes in activity directly impact profitability.
All demonstrations are performed using the QuickBooks Online Test Drive account in Accountant View, allowing participants to explore real reporting scenarios without risk to live company data.
By the end of the hour, you’ll be able to read a Profit & Loss report with confidence and understand what the numbers are telling you about business performance.
Topic Areas
Topic 1: Understanding the Profit & Loss Report
Learn what income, cost of goods sold, gross profit, and expenses represent. We’ll explain how the P&L measures performance over time and why date ranges matter.
Topic 2: How Transactions Affect the P&L
Explore how invoices, sales receipts, bills, expenses, and item setup impact Profit & Loss totals. This section focuses on cause-and-effect rather than memorization.
Topic 3: Live Profit & Loss Walkthrough
Watch a guided walkthrough of the Profit & Loss report using the QuickBooks Online Test Drive (Accountant View). You’ll see how to customize date ranges, drill into totals, and trace numbers back to transactions.
Who This Event Is For
QuickBooks Online users reviewing financial results
Business owners monitoring profitability
Bookkeepers preparing reports
Anyone wanting clearer insight into income and expenses
What You’ll Gain
Clear understanding of how to read a Profit & Loss report
Insight into how daily activity affects profitability
Confidence customizing and reviewing P&L reports
Ability to connect transactions to performance
Other QuickBooks Online Events
This 1-hour event builds on financial reporting foundations.
Additional QuickBooks Online events expand on this by covering:
Banking and reconciliation
Adjusting entries and period close
Job costing and class tracking
Advanced reporting and analysis
QuickBooks Online Event VI helps turn raw numbers into meaningful insight—so you can understand not just what happened, but how well the business is performing.
