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komatthew
October 10, 2024
Question

Deleted invoice - now its credited by QB reulsting in negative sales

  • October 10, 2024
  • 1 reply
  • 0 views

Hi,

I deleted a invoice because it was no longer relevant ($4700). But then the QB online system created a credit memo $4700 "Created by QB Online to adjust balance for deletion".

Now my P&L has -$4700 on sales (I log all payments as services, not sales, as we are Architecture firm). I cannot get rid of this. Can anyone help?

Not sure why the system would automatically make a $4700 credit.

 

Thanks!

1 reply

C
CarlSJ
October 10, 2024

I'll explain why deleting an invoice resulted in a negative amount in your P&L report, @komatthew.

 

The system automatically creates a credit amount when you delete an invoice with an associated payment in QuickBooks Online (QBO). To clear the credit, you need to apply the payment to an invoice or reverse the credit using Journal Entries (JE).

 

However, it's important to note that creating JE can have significant financial implications. Therefore, it's best to consult with an accountant or financial professional to ensure financial data accuracy.

 

For future reference, you can utilize this article to save the current customization settings of your reports and use it for future needs: Memorize a report in QBO.

 

Should you need further assistance with negative amounts in the P&L report when deleting an invoice? I'll be around to lend a hand.

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