Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Good morning-
When I run my P&L report, the “Sales” section only shows invoices that we have created so far. I thought this was supposed to show paid invoices here, no?
My invoices are debiting A/R and crediting sales. Yet my “Sales” on P&L are showing all as debits. Also, I use the Receive Payments feature and this is crediting A/R and debiting my bank account. What am I missing??
Hi MBLL,
Can you check the settings of the PL report to ensure you are running this on the correct accounting method - if you are running this on a Cash method this will only show the transactions which have been recorded as paid.
Thanks
Yes. I’m running it under Cash method. I see what you’re saying. So is it ok that it is showing up as “Invoice” as the transaction type on the report or should it be showing as some other type like Deposit, Payment or Check?Also, so technically if the only
money deposited into our bank account, should match this total?
Hi @MBLL,
Thank you for the prompt reply. Let me clear things up and handle your query about the Sales account in the Profit and Loss report.
It's expected to see invoices or sales receipts under the Sales account in the Profit and Loss report. Other than that though, you'll also see refunds and credit notes (given that you have entered these transactions). These will show up as a negative amount under the Sales account. With that said, the total amount showing up on the Sales account doesn't necessarily equate to the money you deposited into your bank account.
You have the option to customize your reports, so you can get them to focus on important details. You can open the link I provided to find the steps on how to edit your reports. It even includes a short video that will act as a reference for you.
If you have other questions in mind, post them in the comments below. I'll be sure to get back to you.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.