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April 26, 2026
Question

why tax amount from the bill is not coming in amount appearing as expense in profit and loss account? Only the before tax amount is coming in p&l acc. how to correct it?

  • April 26, 2026
  • 1 reply
  • 4 views
e. bill value is 71.4 i.e. 68 is cost and 3.4 is tax. only 68 is coming when running p&l report

1 reply

QuickBooks Team
April 26, 2026

The reason why the 3.40 tax amount does not appear on your Profit and Loss (P&L) report is that tax is recorded as a liability (or a tax credit) rather than a direct expense. In QuickBooks Online, the P&L only reflects your actual income and expenses, which explains why only the 68 amount is showing.

 

To track the tax amount, you can run the Balance Sheet report, which shows a full breakdown of the bill amount. You will see the tax amount under your Sales Tax Liability account. Please also ensure to set the correct date when running the report to show the transaction. 

 

After running the report, you will see the 68.00 as your actual expense and the 3.40 tax separately in your liability account. This ensures your tax records and business costs are both accurately tracked.

 

If you have further questions, please feel free to reply. We're here to help.