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Experienced Member

Profit and Loss is not showing Income

Profit and Loss is not showing Income to expenses. Sales Transactions reports are showing the total sales.  The invoices are "Paid". Expenses are showing nicely.  Am I not completing the "Receive Payments" correctly? Or am I setting up the invoices incorrectly? PLEASE basic 101 answers... Thanks kindly:)

Solved
Best answer 12-10-2018

Accepted Solutions
Established Community Backer ***

Open any invoice that has Items listed on it, and then us...

Open any invoice that has Items listed on it, and then use Ctl Y to see the debits and credits to accounts. This is what you told the data to do for Flow. The sales items typically link to income, which would be a Credit. Sales Taxes, if you have them, Credit a Liability account.

Also, Go to the video tutorials:

Desktop PC program video tutorials


Lastly, open your Items List and right click it. Choose Customize Columns. Bring into your view Account (income link) and Expense account. Make sure the items are similar to what you see in my attachments and in the Sample File. You have Sample Files: from the No Company Open screen, bottom Right. Open "product-based" = Rock Castle Construction and look at their Sales, their Items, their Item Profit reporting, their Financial reports.


Then, tell us what you see about your setup, and let us know if you need more help.


Please see my attachments.




4 Comments
Established Community Backer ***

Open any invoice that has Items listed on it, and then us...

Open any invoice that has Items listed on it, and then use Ctl Y to see the debits and credits to accounts. This is what you told the data to do for Flow. The sales items typically link to income, which would be a Credit. Sales Taxes, if you have them, Credit a Liability account.

Also, Go to the video tutorials:

Desktop PC program video tutorials


Lastly, open your Items List and right click it. Choose Customize Columns. Bring into your view Account (income link) and Expense account. Make sure the items are similar to what you see in my attachments and in the Sample File. You have Sample Files: from the No Company Open screen, bottom Right. Open "product-based" = Rock Castle Construction and look at their Sales, their Items, their Item Profit reporting, their Financial reports.


Then, tell us what you see about your setup, and let us know if you need more help.


Please see my attachments.




Experienced Member

I knew as soon as I posted this I would figure it out!  I...

I knew as soon as I posted this I would figure it out!  I found a video on line that answered my question... Thank you so much:) <a rel="nofollow" target="_blank" href="https://www.artesanibookkeeping.com/income-not-showing-income-quickbooks/">https://www.artesanibookk...>
Experienced Member

Re: I knew as soon as I posted this I would figure it out! I...

Your link doesn't seem to work. But i would be very interested in your solution as I am still struggling with this same problem.
If you have the time, please post a quick rundown of what you did.

 

Johnny

Frequent Explorer **

Re: I knew as soon as I posted this I would figure it out! I...

Johnny - 

I was having the same issue. Here is the link from the previous post. 

https://www.artesanibookkeeping.com/income-not-showing-income-quickbooks/