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C
ccf2
February 9, 2022
Question

Is there anything wrong, with putting monies received from Customers under the Income heading and also under Customers acc, but not issuing an invoice or sales receipt?

  • February 9, 2022
  • 1 reply
  • 0 views
From an Accounting view, is there anything wrong with this? Will Customers accs look wrong without an Invoice or Sales Receipt to match the Income received?

1 reply

T
TirzahC
February 9, 2022

Hi there, ccf2.

 

QuickBooks is only for recording purposes. With that, all money in and money out should be recorded in the right way. This way, your accounts and transactions will remain accurate or balance. 

 

Here are a few steps to narrow down the cause of this issue. Login to your QBO account using an incognito or private browser. Since this doesn't store data in the cache, it the best place to isolate browser issues. Kindly use either of the following shortcut keys:

 

  • Google Chrome, press CTRL  + Shift + N
  • Mozilla Firefox: press CTRL  + Shift + P
  • Internet Explorer: press CTRL  + Shift + P
  • Safari: press Command + Shift + N 

 

For more tips, while handling your other customer entries in the future, you may consider checking out the resources from this link: Manage Customers and income for QBO International.

 

If you have any other questions about QuickBooks, let me know by adding a comment below. I'm more than happy to help. Keep safe!

C
ccf2Author
February 10, 2022

Thank you for the reply, but unfortunately this doesn't really answer my question.

To explain it a bit better, we have members who pay their membership subscription weekly.

I enter these bank transactions under the Income heading "Membership Subscriptions" and also allocate each payment to the Customers' account in QuickBooks.

I don't create an Invoice or a Sales Receipt in Quickbooks.

I know the Profit and Loss is correct as it shows all this Membership Income.

But what I am not sure about is will the Balance Sheet or the Customers' account in QuickBooks be affected by me not creating an Invoice or a Sales Receipt?

All these income payments being allocated against Customer accounts in QuickBooks, but no Invoice or Sales Receipts to match the income?

JenoP
JenoP
February 10, 2022

Hi there, ccf2.

 

Can you tell us how did you record the transactions? Was it through the Online Banking section or by creating a journal entry? We just want to make sure that we give you the right steps and information to address your questions.

 

Please add a reply below to share more details. We look forward to it. Thanks!

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