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Experienced Member

Invoice Paid and deposited in Checking. Doesn't show as income

Hello, So I created an estimate, then from there created and invoice and received payment on the invoice. If I look back at accounts receivable it is listed and the deposit is in the checking account as deposit. When I run reports the money deposited doesn't show up in reports as income. What have I done wrong?

5 Comments
Senior Explorer **

Re: Invoice Paid and deposited in Checking. Doesn't show as income

Are you running cash basis or accrual basis reports?  In accrual basis, the income will show up in your reports as of the date of the invoice. In cash basis, the income will show up when you receive payment.

Experienced Member

Re: Invoice Paid and deposited in Checking. Doesn't show as income

Cash Basis.

QuickBooks Team

Re: Invoice Paid and deposited in Checking. Doesn't show as income

Hello there, @John J.

 

Allow me to help share information about invoices and deposits in QuickBooks Desktop (QBDT).

 

When creating an invoice in QBDT it increases your accounts receivable and your income account. Once you receive and deposited the payment, it increases the amounts on your bank account and decreases your accounts receivable. It doesn't affect any income account reason why it won't reflect as income when running your reports.

g3 estimate.PNG

g3 invocie.PNG

g3 customer payment.PNG

g3 depositing payment from an invoice.PNG

The deposit reflects as income when you've created the deposit directly and not as a payment of an invoice.

g3 deposit ...PNG

 

g3 r report.PNG

 

To learn more about deposits in QuickBooks, you can check this article: Deposit customer payments.

 

Please don't hesitate to add a comment below if you have any other questions about deposits, I'll be right here to help you. Have a good one!

Experienced Member

Re: Invoice Paid and deposited in Checking. Doesn't show as income

So it is showing in my checking account, but will not show as income on reporting. I did a journal entry and it now shows up on profit and loss report but I have to think this isn't the proper way to capture this.

Highlighted
QuickBooks Team

Re: Invoice Paid and deposited in Checking. Doesn't show as income

Thanks for sharing the screenshot, John J.

 

It looks like you'r using QuickBooks for Mac. I would recommend reaching out to our phone support for QB Mac. They will be able to double-check your reports to determine why the invoice isn't showing up as part of your income. Here's how:

 

  1. Open this link: https://help.quickbooks.intuit.com/en_US/contact.
  2. Select QuickBooks Desktop for Mac
  3. Click Using QuickBooks for Mac.
  4. Click Get Phone Number

You can always visit us again in the Community if you have other questions.