There are two specific scenarios I would like to outline. If you are testing conversion clicks from QA URLs here is what will happen:
If using Target only/native reporting:
You can only see them if you switch to: “QA Mode Traffic” in reporting. You can do that from “Reporting” > “Settings” > “Environment” > “QA Mode Traffic”
If using A4T reporting:
There is no option to switch to “QA Mode Traffic” but these conversions will be part of the default A4T report in Target.
See Kb: https://experienceleague.adobe.com/docs/target/using/activities/activity-qa/activity-qa.html?lang=en
See @PratheepArunRaj reply for screen-shot of Scenario1 above.