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robertmarvell
January 29, 2023
Question

Income recorded as Expense cost of sales and not billable income or sales.

  • January 29, 2023
  • 1 reply
  • 0 views

Hi, i cannot get through to intuit as they seem happy to have the community offer support !

 

Why is it that when a customer pays an invoice and i match the transaction it is logged on reports as a cost of sales expense as opposed to a sales or billable income. 

 

ive attached am image to hopefully explain.

 

it must be something that im doing so any guidance is really appreciated.

1 reply

D
DebSheenD
January 30, 2023

Hello there, @robertmavell.

I'm here to share some information on how paid invoices work in QuickBooks.

Yes, you're correct that paid invoices should be tagged as sales income when running a report. That's because it falls as an expense. It's possible that the item was under an expense account.

Here's how:
 

  1. Go to Sales.
  2. Choose Products and Services.
    Look for the search bar and enter the item.
  3. Hit Edit.
  4. Look for the Income account tab and check if it's under income or expense and change it if necessary.
     

You might also find this article helpful if you want to review some steps in processing customer invoice payments: Record invoice payments in QuickBooks Online.

 

After taking care of the deposits, do you also need help reconciling your bank accounts? We do have an article to help you with the flow: Reconcile an account in QuickBooks Online.

 

I'm still up and available if you have more questions about your invoices and sales income report, add them to your reply and I'll get back to you as soon as possible. 

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