Hello Harley44,
Great to learn you're using QuickBooks as your program of choice. QuickBooks enables you to accurately organize your transactions so you can work with them to create powerful reports that share essential information on how your business is doing. I'd be happy to steer you in the right direction with this.
Based on the description you provided above, I recommend checking with your accounting method, your accounting method determines how and when your transactions are recorded in QuickBooks. There are two types of accounting methods in QuickBooks Online; Accrual Basis and Cash Basis.
Accrual basis
- In this accounting method, the time when you enter a transaction and the time when you actually pay or receive cash may be two separate events.
- An accrual basis report shows income regardless of whether your customers have paid your invoices and expenses regardless of whether you have paid all your bills.
Cash basis
- A bookkeeping method in which you regard income or expenses as occurring at the time you actually receive a payment or pay a bill.
- A cash basis report only shows income if you have received cash and expenses if you have paid cash.
Knowing this info, you can verify which accounting method works best for your business type. You can edit this by clicking the Gear icon > Account and Settings > Advanced > Accounting method to Cash > Save.
Let me know if this info helps. I'll be one message away if you need anything else.
