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Why are invoices showing up on the Profit and Loss statement as a credot?
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qbteachmtAnswer
Oct 15, 2017 10:17 PM UTC
When you list a charge item on the Sales Forms (invoice or sales receipt), this is a Credit to the account to which that charge item is linked.
On Invoices (unpaid sale) this is Debit AR and Credit Income. Then, the payment you receive will be Debit Banking and Credit AR, by your use of Receive Payment and applying that to one or more Invoices.
If you are asking why they show when they are still not Paid, then you control running your reports on Cash Basis or Accrual Basis.
Cash Basis = only if paid, and Income for that date of payment and not the date of the invoice.
Acrrual Basis = shows as income for the date on the invoice, even if you Never get paid.