Are mobile deposit transactions from customers (accounts receivable) supposed to show up in my profit-loss sheets? They are not showing up for me.

Forum|Forum|5 years ago
November 28, 2020
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QuickBooks Online

Maybelle_S

QuickBooks Team

Hello there, @info-ecolawnsult.

When you receive a payment from your customer, it will only affect the Accounts Receivable (A/R) and your bank account. The deposits will debit your bank account (asset) and credit your undeposited funds (other current assets).

We can pull-up the Profit and Loss Detail report to check the posting accounts for deposits. Also, the deposits will show up under a bank account and the invoices on an A/R account. Here's how:

Go to the Reports menu.
On the search bar, type Profit and Loss Detail.
Filter the date.
Check the posting accounts for the deposits.

I've also added this article about customizing reports in QBO: Customize reports in QuickBooks Online.

Don't hesitate to drop a comment below if you have other questions. I'm more than happy to help. Take care!

info-ecolawnsultAuthor

Thanks for your response. I'm not sure I still totally understand but might be on the right track. Are you saying that the checks paid to me for services I perform for customers do not get accounted for on the P&L sheet, but that they just go straight to my business checking account?

If I originally opened my business account with $5000, and have $3000 in business expenses, my business account has $2000. If I then receive $4000 in AR from my customers as deposits into my business account, that would make my balance be $6000, which is $1000 more than I started out with. From a business perspective, doesn't that mean that is a profit of $1000?

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