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markbayfinance
Level 1

I AM NEW TO QUICKBOOK. I UPLARDED SALE CONTRACTS (REVENUE) AND QUICKBOOK DID NOT RELEASE THEM AS REVENUE, BUT RATHER AS EXPENSES. HOW TO FIX THIS

 
1 Comment 1
MariaSoledadG
QuickBooks Team

I AM NEW TO QUICKBOOK. I UPLARDED SALE CONTRACTS (REVENUE) AND QUICKBOOK DID NOT RELEASE THEM AS REVENUE, BUT RATHER AS EXPENSES. HOW TO FIX THIS

May I know how did you upload the sales contract? I can think of two possible scenarios that might have caused this issue. Let me pinpoint this to you and guide you to sort this out, Mark.

 

If you are uploading a receipt in QuickBooks Online (QBO), this will automatically be categorized into an expense account since purchases reflected in receipts are expenses. 
receipt feature.png 

 

On the other hand, if you're referring to uploaded transactions appearing in the Categorized tab, you'll have to make sure to select an Income account so it will show as revenue when running the Profit and Loss report. 
receipt feature1.png
 

To give you a detailed explanation of how QuickBooks recommends categories for transactions, check this article: Categorize Online Bank Transactions in QuickBooks Online.

 

Furthermore, to ensure your accounts align with your bank and credit card statements, see this handy resource for your guide: Reconcile An Account in QuickBooks Online.

 

Did you know that our QuickBooks Live Expert Assisted team is readily available to help optimize all your transactions, from sales and expense forms to reports? They're here to ensure you make the most out of your financial data.

 

Let me know if you're referring to something else or if you have any other questions about sales receipts, bank transactions or any transactions in QuickBooks. I'm always here ready to assist you further. 

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