Where are discounts recorded in a P & L ?

I see that you want to locate a total for the amounts of the discounts that have been applied to invoices during last year in your P & L report in QuickBooks Online. I've got guidelines you can follow to achieve this.

QuickBooks automatically creates a Discount given account in your chart of accounts to track the discounts you give. If you haven't already, turn on the discount setting. Here's how:

1. Go to Settings and then Account and Settings.
2. Click Sales.
3. In the Sales form content section, pick Edit.
4. Turn on the Discount setting.
5. Click Save and then Done.

These discounts are typically recorded as a reduction in the revenue account on the Profit and Loss (P&L) statement. To locate the total amount of discounts applied to invoices during the last year, you can follow these steps:

1. Log in to your QuickBooks Online account.
2. Navigate to the Reports tab in the left-hand menu.
3. In the search bar, type Profit and Loss and select the Profit and Loss report from the suggestions.
4. Customize the report by selecting the appropriate date range for the last year.
5. Run the report to view the total amount of discounts applied to invoices during the last year.
   
   

I'm adding these articles you can use in the future:

• Customize reports in QuickBooks Online.
• Common custom reports in QuickBooks Online.

By following these steps, you should be able to locate the total amount of discounts recorded in the Profit and Loss statement for the specified period. If you have more questions about reports in QuickBooks Online, post them here in the forum. I'll be sure to answer them ASAP. Stay safe!