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pedroldsouza
December 11, 2018
Solved

How do i apply an invoice payment to an income account?

  • December 11, 2018
  • 3 replies
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I created an invoice, received payment, deposited to my bank account but I want to link it to an income account, only way I found to do this is doing a manual deposit but then I would have two entries. Please help!!! This has been driving me crazy for the last 2 months!!!! Can't find a solution

Best answer by qbteachmt

"is when I run a job profitability report with the expense account linked to a customer/job, it's adding on the expenses (which is a negative account not a positive )"

You need to be using Items for this, not posting to Accounts. You need Two Sided Items. That way, you control the flow from Purchases to Expense and from Sales to Income.

If you already have Items, you can Edit and Fix them. If you did not list the item on the purchase, you can edit and Fix that, as well.

Please see my attachments:

And here is a Reference support article:

https://community.intuit.com/articles/1502242-track-job-costs




3 replies

qbteachmt
qbteachmtAnswer
December 11, 2018

"is when I run a job profitability report with the expense account linked to a customer/job, it's adding on the expenses (which is a negative account not a positive )"

You need to be using Items for this, not posting to Accounts. You need Two Sided Items. That way, you control the flow from Purchases to Expense and from Sales to Income.

If you already have Items, you can Edit and Fix them. If you did not list the item on the purchase, you can edit and Fix that, as well.

Please see my attachments:

And here is a Reference support article:

https://community.intuit.com/articles/1502242-track-job-costs




A
Anonymous
December 11, 2018

Payments impact your AR account, and either your undeposited funds account or your bank account directly, depending on your QB preference.

There are no income or expense accounts associated with customer payments received, as the income event is recorded on the invoice the payment pays.

If you are note receiving money to pay an invoice, a previous sale on account, then use a sales receipt instead of a payment.  It acts as both the sale and the receipt of money, all in one transaction.  When using a sales receipt you can use an item or items associated with income accounts.

P
pedroldsouzaAuthor
December 11, 2018
Ok thanks for the answer, my biggest problem and I tried this different ways, is when I run a job profitability report with the expense account linked to a customer/job, it's adding on the expenses (which is a negative account not a positive ) , how can I have expenses and an income in one report? I tried doing customer/job with expenses on a customized report and nothing shows up, probably like you said they are not compatible, is there any way around this?

Thanks again
Rustler
Rustler
December 11, 2018

In addition to what Red said

the item you use on the invoice or sales receipt is what determines which income account is posted to.

the items, edit the item, the income account block should have an income account selected

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