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Level 1

When I run a month end "cash" Profit/Loss report, why is my total income always more than my deposit detail ?

When I run a month end "cash" Profit/Loss report, why is my total income always more than my deposit detail ?
3 Comments
Community Champion

When I run a month end "cash" Profit/Loss report, why is my total income always more than my deposit detail ?

"Cash" income is all payments posted. This does not correspond to money deposited if recorded payments are in transit, or if deposits are short due to processing fees, or diverted to non business accounts.

 

Example. If you have $1000 of sales paid through QB by credit card you have $1000 of income but only about $965 deposited due to deduction for processing.

Level 1

When I run a month end "cash" Profit/Loss report, why is my total income always more than my deposit detail ?

I understand what you are saying, but my problem seems to be bigger than that !  My "income" in my reports is always considerably more than the actual money I am depositing.  My concern is that something is somehow getting counted twice.  My deposit detail matches up to my banking but my reports are way off saying I have more money than I do.

QuickBooks Team

When I run a month end "cash" Profit/Loss report, why is my total income always more than my deposit detail ?

Let’s get this resolved, @aquadesigncenter.


Reports are vital since it delivers a wide presentation on how business work. We become anxious once we noticed something that creates an impact.


When running reports, always consider checking the date period. You’ll want to ensure this element is properly set in the program. This way, QuickBooks provides the most accurate information.


Please run the Deposit detail with the same date range on your Profit and Loss report. Here’s how:

 

  1. Go to the Reports menu.
  2. Enter Deposit Detail in the search box.
  3. Select the date period.
  4. Press the Customize button to select the necessary details.
  5. Click Run report.

If the issue persists, you can contact our Technical support team to furtherly investigate your concern. They have the ability to pull up some information within your account to determine the cause of it. Supports are available Monday-Friday from 6:00 AM until 6:00 PM PT and start on the weekend at 6:00 AM but only ends at 3:00 PM. Here’s how to reach out to them:

 

  1. Sign in to your QuickBooks Online company.
  2. Select the Help (?) menu at the top right.
  3. Press Contact Us.
  4. Enter this statement on the box ”total income under Profit and Loss showed more than my Deposit Detail report.”
  5. Select Let's talk.
  6. Choose to Get a call.

Here's an article that tackles a few things of what you can do in QBO to easily customize, save and share reports. I've also added a link here in case you need steps to export or print them in the future.


I'm glad to provide further assistance should you have any other questions besides reports. Always take care.

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