cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Everything you need to know about banking in QuickBooks Online - Discover more
buzzardproperty-
Level 1

P&L report is showing a services category which has all my invoices in and a sales which has all money received in but this is making the report completely wrong?

 
3 REPLIES 3
GeorgiaC
QuickBooks Team

P&L report is showing a services category which has all my invoices in and a sales which has all money received in but this is making the report completely wrong?

Hi buzzardproperty-, thanks for joining the Community :)

 

The PL report shows all income and expense accounts for a specified period; services provided generate income, the specific income account related to the service can be viewed by navigating to sales > products and services > edit > see income account field. 

buzzardproperty-
Level 1

P&L report is showing a services category which has all my invoices in and a sales which has all money received in but this is making the report completely wrong?

Thank you for your response. Understand that pl reports all income however for example I sent an invoice to a customer for £500 that invoice went into services category. When the customer paid £500 that went into sales category so showing on my pl is effectively £1000 even though £500 has only been received. 

GeorgiaC
QuickBooks Team

P&L report is showing a services category which has all my invoices in and a sales which has all money received in but this is making the report completely wrong?

Thanks for getting back to me - is your QuickBooks set to cash or accrual, and was the 'deposit to' account on the invoice payment a 'cash at bank and in hand' account type? 

Need to get in touch?

Contact us