Skip to main content
B
Beemer
April 9, 2025
Question

Revenue is Doubled. Chart of Accounts>Bank Register has deposit to bank PLUS invoice marked as paid to A/R

  • April 9, 2025
  • 1 reply
  • 0 views

My revenue appears to be double the actual because the Chart of Accounts is linked to my bank account. The chart of accounts then has each check deposit (often containing multiple checks), and then when I mark an invoice as paid, QuickBooks adds a new revenue item to A/R. So my chart of accounts might look like this:

 

Date         REF NO    PAYEE    MEMO      DEPOSIT

-----------------------------------------------------

04/01/2025   Payment                       $3,000

04/01/2025   Payment   Income              $7,000

04/01/2025   Deposit   Income   Deposit   $10,000

 

I tried to delete all the "Payment" items from the Chart of Accounts that aligned to the check deposits, but it just marked all the invoices as unpaid. 

 

How can I delete these items from the Chart of Accounts > Bank Register without marking the invoices as unpaid, or how do I mark an invoice as paid but not force it into the Bank Register?

 

 

    1 reply

    J
    JeveeAdvin__la
    April 9, 2025

    We can remove the manually entered deposits and then reverse the automatically added transaction in your bank account, Beemer. I'll guide you through the steps to eliminate duplicate income entries.

     

    Here’s the step-by-step process to delete:

     

    1. Navigate to the Accounting menu and select Chart of Accounts.
    2. Find your bank account and click on View register.
    3. Locate the manually entered Deposit and click on it, then choose Delete.
    4. Confirm the deletion by selecting OK.

     

     

    Next, undo the deposit that was added to your Banking page:

     

    1. Access the Banking menu and select the appropriate bank account.
    2. Choose the Reviewed tab and find the deposit.
    3. Under the Action column, click Undo.

     

    After removing or undoing the deposits, you’ll want to match the already paid invoice to the correct deposit cleared on the Banking page.

     

    Continue from the Banking page:

     

    1. Choose the bank and locate the deposit under the For Review tab.
    2. Click on the deposit and choose Find match.
    3. Adjust the Date range to include the date the invoice payment was created.
    4. Tick the box for the Payment and then click Save.

     

    After completing, we can run the profit and loss again to see the correct income results without any repetition.

     

    To get guidance on running a profit and loss profit and loss report that summarizes the total income and expenses of your business, check out this resource: Run a Profit and Loss report by bank account in QuickBooks Online.

     

    We can also check out this article on how to reconcile your accounts so they always match your bank and credit card statements: Reconcile an account in QuickBooks Online.

     

    Before we wrap up, I suggest you explore QuickBooks Live Expert Assisted to streamline your accounting, maintain precise financial records, and access professional support. This could free up valuable time, allowing you to concentrate on expanding your business.

     

    If you have more questions about the duplicate revenue in QBO, don't hesitate to come back here. We're here to provide continuous assistance. Have a great one.

    Terms & ConditionsAccessibility statement