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C
chadwixk
November 30, 2021
Question

Is it possible to have QBO use the Invoice Line's Service Date as the date to recognize revenue instead of the Invoice Date?

  • November 30, 2021
  • 2 replies
  • 0 views

I have a monthly invoice, but to see weekly revenue changes, I'd like to list 4 line items on the invoice, one per week with a service date of each Sunday. Then be able to report on weekly P&L based on the invoice detail line's Service Date.

 

i.e. an Invoice with Date: 11/30/2021

has 4 lines

  1. Service Date: 11/1 - $500
  2. Service Date 11/7: $750
  3. Service Date 11/14: $650
  4. Service Date 11/21: $950
  5. Service Date 11/28: $340

Running a P&L for the 11/1 = 11/6 date range would show $500 in revenue.

2 replies

K
Kevin_C
November 30, 2021

It's nice to see you here in Community, @chadwixk. Allow me to provide some insights about customizing your reports.

Currently, we're unable to run the Profit and Loss Detail report that shows the service dates.

 

To view your weekly revenue changes using the Service Date column, you can customize the Sales by Product/Service Detail report. Here's how:

  1. Select Reports from the left navigation bar and search Sales by Product/Service Detail.
  2. Click the Customize button and go to the Rows/Columns section.
  3. Select Change columns and put a checkmark in the Service Date box.
  4. Click Run report.


In addition, you can read the following articles to help you improve the reporting process and make the most of QuickBooks' financial reporting capabilities:

Stay in touch if you have other questions or concerns. I'd be glad to help. Thanks for visiting us today.

C
chadwixkAuthor
December 1, 2021

@Kevin_C your answer does not apply to my question. I know how to add the Service Date to the Invoice. My questions is if QBO can use THAT date, INSTEAD of the Invoice Date in accrual based reports.

K
Kevin_C
December 1, 2021

Thank you for your prompt reply, @chadwixk. Let me clarify some information about the service date in QuickBooks Online.

 

As stated above, we're unable to run the Profit and Loss Detail report that shows the service dates right now. I recommend submitting your feedback and suggestions to our Product Development Team so they can add this feature in the future. Here's how:

  1. Go to the Gear icon.
  2. Select Feedback under Profile tab.
  3. Enter your comments, suggestions, then click Next.


Keep on posting if you need more assistance. I'll always be here to help you. Take care and have a great day!

S
steveatliftinghands
March 22, 2023

I just want to add my voice to the mix.  I would like revenue to be recognized based on service date for accrual accounting purposes, not sales receipt date.  This is not a reports issue in Quickbooks.  Just hoping you will pass on this suggestion to dev team.  Thank you.  

R
Rea_M
March 22, 2023

I hear you, @steveatliftinghands.

 

Let's send feedback or product recommendations to help improve the features and your experience in QuickBooks Online (QBO).

 

I can see how the benefit of being able to recognize revenue based on service date for accrual accounting purposes would aid you in managing your income transactions in QBO. With this, I would encourage you to send suggestions or product recommendations. We'll take them as opportunities to improve the various features of our products.

 

Here's how:

 

  1. Go to the Gear icon.
  2. Select Feedback.
  3. Type in your recommendation in the Share your feedback field.
  4. Click Next.
  5. Follow the on-screen instructions to complete the process. 

 

Also, there are a variety of ways you can view a snapshot of your business finances in QuickBooks. You may want to check out this article on how to do this in QBO: Get a snapshot of your business finances in QuickBooks Online.

 

On top of that, I'd also recommend visiting this page to keep you updated with the latest software improvements and enhancements with QBO: Customer Feedback for QuickBooks Online.

 

Please feel free to leave a comment below if you have other feature concerns or questions about managing transactions in QBO. I'm always ready to help. Take care, @steveatliftinghands.

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