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May 5, 2020
Question

Have a payment (for sale of services) from mother company, it has been wrongly entered as 'owner's equity': can I relocate it to 'sales'? is an invoice essential?

  • May 5, 2020
  • 1 reply
  • 0 views
(business/company is NOT GST registered!)

1 reply

Rose-A
May 5, 2020

Welcome to the Community, innov8ive1.

 

Let me help you go over to your transactions and have the payment relocated.

 

You can create an invoice or sales receipt to relocate the payment and delete the transaction you've wrongly entered on the owner's equity so it won't mess up your balance sheet report.

 

You can go through these articles to help you create an invoice or sales receipt in QuickBooks Online:

 

Should I use an invoice or a sales receipt?

Difference between an invoice and a sales receipt

 

To delete a transaction, check out this article: Void or delete transactions in QuickBooks Online.

 

Let me know how the result of this troubleshooting in the comment below. I need to make sure this is resolved and you're back to running your normal business processing. All the best!