Question

Where is the report called "Income Statement"?In Order to Calculate EBITDA, QB says you need to use the Income Statement.

Forum|Forum|2 years ago
April 15, 2024
3 replies
296 views

This report is not listed under "reports".

QuickBooks Online

Moderator

I understand how essential it is to be able to view critical financial data related to your business, @theflowerstudios. Let me provide details on how to find your earnings before interest, tax, depreciation, and amortization (EBITDA) in QuickBooks Online (QBO).

You can't see an income statement report from the Reports menu because it is called a Profit and Loss statement, which summarizes a business’s revenue, expenses, and profits or losses over a particular period.

To calculate EBITDA, let's review your company’s Profit & Loss report and manually calculate it using the formula. Click the Reports menu on the left navigation bar. Please note that EBITDA is not included as a line item on the report, but you can calculate it easily using other items reported on every income statement.

Here's how the formula looks: EBITDA = Net Income + Interest Expense + Taxes Expense + Depreciation + Amortization. You can check out this beneficial resource that shows a few examples of these methods: EBITDA: Definition, formula, and how to use it.

Moreover, you'll want to customize the format of each report to show the exact details you need. Then, you can either export it to Excel or print it after.

I'd like to hear how you're doing after running the report, as I want to ensure this is addressed for you. Just reply to this post and I'll get back to you. Have a wonderful day!

T

theflowerstudiosAuthor

When I print out my P&L, there is no line item called "Amortization", "Depreciation", "Interest", and the only line item that says anything related to taxes is under the Payroll category. So I am guessing to add the payroll taxes back in? But as for the other 3 items of EBITDA, they aren't on my P&L. I can't seem to get my specific P&L in Quickbooks to help me with this formula because the components aren't there like the examples in QB blogs.

C

CamelleT

Moderator

I'll chime in and provide further insights about running a Profit and Loss (P&L) report and calculating EBITDA, theflowerstudios.

The P&L report displays your income and expenses. You may have selected a different type on Amortization, Depreciation, and Interest that's why it isn't showing when you run the report. We can check the Chart of accounts to see how the three items were set up. Here's how:

Open your QuickBooks Online (QBO) account.
Go to Transactions.
Choose Chart of accounts.
You can now see the setup of your Income and Expenses.

Then, you can now calculate your EBITDA manually by generating a P&L report. For tax payments and liabilities, refer to your balance sheet report.

Additionally, I'll share this resource to help you personalize the layout of your financial reports: Customize reports in QuickBooks Online.

Tap the reply button if you have additional questions about calculating EBITDA or running financial reports in QBO. I'll always be here to assist.

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