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June 2, 2024
Question

product and services

  • June 2, 2024
  • 1 reply
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how do I change my revenue type from sales to service after the invoice is paid in full, P&L shows some revenue as sales and some as services, all should say services?

1 reply

June 2, 2024

It's good to have you in the Community, @AFSllc. I can help you with the details of changing the sales income to service income in QuickBooks Online (QBO).

 

To start with, we can run a Profit and loss (P/L) report, then click the Sales. This way, we will find the transaction, check for the item used in the invoice, and change the account of the item.

 

Here's how:

 

  1. Go to Settings, and select Products and services.
  2. Find the item and select Edit.
  3. Choose the account you want to use under the Income account▼ drop-down.
  4. Select Save and close.

 

After this, we'll need to run the P/L report to check if the changes took effect. Otherwise, you may follow these steps:

 

  1. Run a Profit and loss report.
  2. Click Sales.
  3. It will route you to the Invoice page.
  4. Under Product/service, select the same item edited in the Product and services.
  5. Once done, hit Save and close.

 

When you generate a profit and loss report, it will be categorized as service income.

 

Additionally, you might want to check this article and find out why your Profit and Loss report is missing income and expense transactions in QuickBooks Online: Find the missing income and expense transactions in your Profit and Loss report.

 

Kindly notify me how it goes by leaving a comment below. I'm always ready to provide you with the necessary assistance. Have a good one.