Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
I am a new Qb user. Recently i created my chart accounts, but when i created my first sales receipt i considered it as a income, i expected that payment was applied as a income cash and cash equivalents, in positive number because is a sale, is a income, positive number, but it was not. The sales appears as negative number in the account cash and cash equivalents. Why? What i am doing wrong??
Solved! Go to Solution.
@Meraki wrote:
I am a new Qb user. Recently i created my chart accounts, but when i created my first sales receipt i considered it as a income, i expected that payment was applied as a income cash and cash equivalents, in positive number because is a sale, is a income, positive number, but it was not. The sales appears as negative number in the account cash and cash equivalents. Why? What i am doing wrong??
the issue is that you used a bank type account on the item screen for the item you used on the sales receipt. The item, where it says select income account, is just that. You have an income type account in the chart of accounts, (you can make others if you wish), but that is the account you select.
then you deposit the funds received in a bank account, bank accounts are where you hold money
Hello there, Meraki.
I'd like to begin by welcoming you to the Online Community. I'm here to clarify why your sales show a negative amount in the cash and cash equivalents account.
I'd like to ask more details about your issue to help get on the same page. How did you enter the sales receipt?
Have you tried running the balance sheet report and check if the cash and cash equivalent accounts shows a negative number? I’d appreciate if you can provide a screenshot of the account and transaction journal.
Looking forward to hearing from you. Thank you in advance.
@Meraki wrote:
I am a new Qb user. Recently i created my chart accounts, but when i created my first sales receipt i considered it as a income, i expected that payment was applied as a income cash and cash equivalents, in positive number because is a sale, is a income, positive number, but it was not. The sales appears as negative number in the account cash and cash equivalents. Why? What i am doing wrong??
the issue is that you used a bank type account on the item screen for the item you used on the sales receipt. The item, where it says select income account, is just that. You have an income type account in the chart of accounts, (you can make others if you wish), but that is the account you select.
then you deposit the funds received in a bank account, bank accounts are where you hold money
Thanks to everyone. I solved the problem, i was using a bank account in the sales receipts, as savings in current assets. Now i using the account incomes for sales of products.
Thanks
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.
For more information visit our Security Center or to report suspicious websites you can contact us here