My profit and loss statement has items that show up as BOTH accounts receivables and deposit in my business checking account which inflates the income on the report.

Hello,

1 common reason is if you create an invoice, that creates the income and Acc Recv transaction.  When you download your banking transactions, if you just ADD a payment and offset an income account instead of MATCHING it to an open invoice, it will record the income twice.

You might want to go back and look at the deposits and if they say manually added instead of manually matched, that means that they werent matched to the invoice.