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Senior Explorer *
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Partial Payment of Bill not recording correctly for P&L statement

Hi,  

 

Our company made a $200.00 payment with a check dated 3/15. 

This $200 paid off $50 of a February 2nd bill that was originally $300 but had a remaining amount due of $50.  The other $250 was paid in February.

The rest of the $150 went to a bill dated 3/2.

 

When I run the P&L statement Cash Based NOT Accrual, I expected to see the full $200 as an expense for the month of march as that is when we paid out the $200.  Instead I only saw the $150.

 

Why is my Cash based report not pull the full $200 expense into March but instead only pulls the portion of the payment that was attributed to a bill owed in March.

 

If my  March $200 payment was applied in full to a bill from February, the March P&L would show the full $200 so why is the partial payment causing this not to pull the full March Payment?   Is this a "feature"?

Best answer 04-17-2019 05:34 AM

Accepted Solutions
QuickBooks Team

Re: Partial Payment of Bill not recording correctly for P&L statement

Hi FMJS,

 

I've replicated the scenario and found out that only $50 will show up in the March P&L report if the $150 bill was un-selected in the 3/15 bill payment.

 

Please open your $200 bill payment in March, and be sure to put a check mark the $150 bill as well. Then, you can run the Profit and Loss report after.

 

Capture.PNG

We're just around if you need more help.

4 Comments
QuickBooks Team

Re: Partial Payment of Bill not recording correctly for P&L statement

Hi there, FMJS.

 

We have tried to reproduce your issue and got the correct amount on the P&L report. In your case, we can try to toggle the date of the check to a different one. Then, put it back to March and refresh the report.

 

If you see the same amount, we can run the Verify and Rebuild Data to fix any discrepancies on the report. 

 

Here's an article for the steps: Verify and Rebuild Data in QuickBooks Desktop.

 

Then, go back and run the Profit and Loss report. 

 

If you're getting the same result, I'd recommend contacting our Phone Support Team by following these steps:

  1. Click Help located at the top.
  2. Choose QuickBooks Desktop Help.
  3. Enter a brief description of your issue and click Continue.
  4. You can choose Message an Agent or Talk to a Specialist.

Should you have any other questions or concerns, feel free to reach out to us. Thanks.

Senior Explorer *

Re: Partial Payment of Bill not recording correctly for P&L statement

Hello, Thank you for weighing in.  I may not have explained myself well.  

 

The CHECK is dated March already and is for $200

Part of the check paid for the TOTAL MARCH bill for $150

Part of the check paid for a the REMAINDER of a FEBRUARY bill that was originally $300 but we had only paid $250 of back in FEBRUARY

The P&L is only showing $50 for March when it should show $200

 

If I change the Date of the FEBRUARY bill to MARCH, the P&L NOW reflects $450 in MARCH which is wrong because $150 of that amount was paid by a check dated FEBRUARY.  So now if I run the P&L for February, I am $150 short and the March P&L is overstated by $150

 

I need my P&L to correctly reflect MARCH = $200 because that is what the check was dated and what we paid in MARCH.

 

It is the partial payment of February's bill paid with a check both in February and March that is causing this problem.  

 

Was there something I was suppose to do when I made the February partial payment of $250 and there was $50 still remaining to be paid on that February bill??

I appreciate your help.  Suzanne

QuickBooks Team

Re: Partial Payment of Bill not recording correctly for P&L statement

Hi FMJS,

 

I've replicated the scenario and found out that only $50 will show up in the March P&L report if the $150 bill was un-selected in the 3/15 bill payment.

 

Please open your $200 bill payment in March, and be sure to put a check mark the $150 bill as well. Then, you can run the Profit and Loss report after.

 

Capture.PNG

We're just around if you need more help.

Senior Explorer *

Re: Partial Payment of Bill not recording correctly for P&L statement

Thank you for your help