Question

P&L report is showing a services category which has all my invoices in and a sales which has all money received in but this is making the report completely wrong?

Forum|Forum|4 years ago
June 13, 2022
3 replies
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QuickBooks Online

Hi buzzardproperty-, thanks for joining the Community 🙂

The PL report shows all income and expense accounts for a specified period; services provided generate income, the specific income account related to the service can be viewed by navigating to sales > products and services > edit > see income account field.

B

buzzardproperty-Author

Thank you for your response. Understand that pl reports all income however for example I sent an invoice to a customer for £500 that invoice went into services category. When the customer paid £500 that went into sales category so showing on my pl is effectively £1000 even though £500 has only been received.

G

GeorgiaC

Thanks for getting back to me - is your QuickBooks set to cash or accrual, and was the 'deposit to' account on the invoice payment a 'cash at bank and in hand' account type?

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