I have £2500 listed on quarterly P/L report as "Unapplied Cash Payment Income". Have looked at help articles but nothing works as described. Can someone help me resolve?

Hello there, Matt.

Thank you for your query regarding the Unapplied Cash Payment Income showing on your Quarterly P&L report. I would be happy to help you resolve this issue.

The Unapplied Cash Payment Income appears when customer payments are the following:

• Recorded before the invoice was created.
• The payment wasn't applied properly to an invoice.
• Deleted a paid invoice transaction.

This can happen even if you have later tried to match these payments to invoices, due to the timing of the actions might have been missed in the process.

To resolve this, you can try the following steps:

• Check the Dates: Ensure the payment dates are not before the invoice dates. QuickBooks expects payments applied to an invoice to exist after the invoice date.
• Apply or Reapply Payments: If the payment dates are correct but were not applied or incorrectly applied to the invoices:
  1. Go to the specific payment transactions or search for the payment transaction. 
  2. Check if they're applied to the correct invoices. If not, use the Receive Payment screen to apply them correctly to the respective invoices.
• Double-Check Transactions: Sometimes, a payment might apply to a customer's account rather than to a specific invoice. Please ensure that each payment is applied directly to the corresponding invoice.
• Run the Report Again: After making the necessary adjustments, please run your Profit and Loss report again to see if the Unapplied Cash Payment Income still appears.
• You can also use the audit log feature to review changes made to every transaction. 

You can refer to this article for more details on fixing an unapplied cash payment income: Unapplied cash payment income on your profit and loss.

I'd like to drop these articles for your future reference:

• What to do if you see unapplied cash bill payment expense on your profit and loss.
• How to record Customer prepayments for Products or Services.

We're always here to ensure your QuickBooks Online records accurately reflect your financial activities. Please don’t hesitate to get in touch if you need additional assistance.