# P&L report by class, customer or project

- URL: https://www.usewisecost.com/help/reports-and-audit-trail/p-and-l-report
- Audience: Admins
- Last updated: 2026-09-19
- Part of the WiseCost Help Center: https://www.usewisecost.com/help

> The WiseCost P&L report groups profit and loss by class, customer or project, accrual or cash, and applies indirect rates for a fully loaded result.

The P&L report in WiseCost is a profit and loss statement grouped by Class, Customer or Project, on an accrual or cash basis. Run it from **Reports → New Report → P&L**. It applies your indirect rates, provisional or calculated, to reach a fully loaded P&L: what each contract really costs once fringe, overhead and G&A are included.

**Who can do this:** an Administrator.

## Why it is different from the QuickBooks Online P&L

QuickBooks Online shows revenue minus direct costs per class. A **fully loaded** P&L also adds each contract's share of indirect costs, which is the number that tells you whether a contract or program covers its real cost.

## Run the report

1. Go to **Reports → New Report** and click **P&L**.
2. Choose the grouping: by Class, by Customer or by Project.
3. Choose the basis: accrual or cash.
4. Choose which indirect rates to apply: your provisional rates or the rates calculated from actuals.
5. Run it.

[Screenshot: Profit and loss report with one column per class]

## Download

The Excel download keeps its formulas, so you can follow how each loaded amount was calculated. The report is also saved in [Report History](https://www.usewisecost.com/help/reports-and-audit-trail/report-history).

## Where the rates come from

Calculated rates are the ones in the [Indirect Rate report](https://www.usewisecost.com/help/reports-and-audit-trail/indirect-rate-report), which depend on the roles in **Company Setup → Accounts**.

## Common questions

### Can I see profit per customer instead of per class?

Yes. Group the report by Customer, or by Project.

### What is the difference between provisional and calculated rates?

Provisional rates are the ones you set for billing during the year. Calculated rates come from your actual costs to date.

## Further reading

- [How to Calculate Indirect Rates in QuickBooks Online (and See True Cost by Contract)](https://www.usewisecost.com/blog/calculate-indirect-rates-quickbooks-online)
- [QuickBooks Online for Government Contractors: Can You Stay DCAA Compliant Without an ERP?](https://www.usewisecost.com/blog/quickbooks-online-government-contractors-dcaa)