Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join now
@wfbrbutch wrote:
Contractor Edition; Ex., Total invoice for $50,000 less Retainage $5,000= $45,000. Retainage is sent to an asset account until invoiced. Payment received is $45,000. P&L on Cash basis shows the total amount of $50,000 as income. Why? This is incorrect. Any suggestions?
Did you receive the Retainage in a time period outside or inside of the time period of the P&L ?