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jkthorpe
Level 1

What causes sales to be counted twice making it appear that income is double?

Sales transactions shows Invoice and payment for each customer.
1 Comment 1
AndréB
Level 7

What causes sales to be counted twice making it appear that income is double?

Hey jkthorpe,

 

It's great that you've identified this behaviour. Keeping an eye on how your sales are tracked is crucial in maintaining accurate reports, and will make it easy to file your sales taxes. QuickBooks Online comes with advanced management of your accounts receivable, making it easy to know how much you're owed for each invoice. Recording invoices and payments separately allows you to easily record your income without affecting your bank account until a later date. I'll be happy to help you get to the bottom of this. 

 

Under Accrual accounting, the sale is recorded with the invoice, and the payment simply clears the amount out of your accounts receivable and places it into your bank account. You'll see two transactions in your books, but the income is only tracked once. The best way to verify this behaviour is by looking at your Profit and Loss report. If you're noticing both the invoices and their payments affecting your sales amounts, please reach out to an agent using one of the methods below. They'll be able to take a deeper look at your account to determine what's going on.

 

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