Desperately Need Help: Direct Deposit Payables Show Up in Profit & Loss Statement

I’m here to help and get you back on the right track, Harry.

To avoid posting duplicates in your Profit and Loss reports, you’ll want to match those transactions from your online banking account instead of adding them. Let me guide you how in your QuickBooks Online (QBO) account.

1. Go to the Banking or Transactions menu.
2. Select the tile for the account you want to review.
3. Click the For Review tab.
4. Find and select the transaction with the Match option from the Action column.
5. Select the downloaded transaction to expand the view.
6. Review the Matching records found in QuickBooks
7. Select the link next to each match to get more details.
8. Make sure this is the correct match
9. Then select Match

You can also check this article for more details about the process: Categorize and match online bank transactions in QuickBooks Online.

I’d also recommend working with your accountant for additional guidance. This way, we can ensure your account is well accounted for after recording this. If you’re not affiliated with one, you can visit our ProAdvisor page and we’ll help you find one from there. 

Furthermore, if this is not the case, I recommend contacting our Support team. There, they can securely check your account and investigate the reason why your Profit and Loss report is posting duplicate amounts. 

Moreover, I’m adding this link that can guide you through the steps in matching your bank balance and QuickBooks balance seamlessly: Reconcile an account in QuickBooks Online.

Let me know if there’s anything else you need help with in managing your accounts and reports in QBO. I’ll be around ready to back you up. Stay safe.