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laperna1
Level 2

Invoice for customer entered and did not translate correctly on P&L report???

My coworker entered an invoice in ProPlus '23, then processed the check received for that invoice and it translated to a negative on the P&L.  I had to delete both and enter it as a "use register" entry to correct it.  What could she have done incorrectly that it would come out so badly?  

3 Comments 3
FishingForAnswers
Level 10

Invoice for customer entered and did not translate correctly on P&L report???

@laperna1  A few things, depending on the details.

 

For starters, when you say it translated to a negative, what is 'it'?

KayePe
QuickBooks Team

Invoice for customer entered and did not translate correctly on P&L report???

It seems that your coworker experienced a confusing process when handling an invoice and receiving its payment in QuickBooks Desktop (QBDT), Laperna. Let's dive deep into this concern together to understand the reason for the issue.

 

If a customer's payment is misclassified or if there are errors during invoice recording, it can result in negative entries on the Profit and Loss (P&L) report. Additionally, using an item associated with an expense account when creating an invoice can also lead to negative figures on the P&L report.

 

To discover the reasons behind the negative impact of the invoice on your P&L report, you can run an Audit Trail. It will show where the process might have gone wrong:

 

Here's how:

 

  1. Hover over the Reports.
  2. Click Accountant and Taxes, then tick Audit Trail.
  3. Modify the Date Entered/Last Modified dropdown to show the entries.

 

When handling reports in QBDT, you can also customize it to specifically highlight the transactions you wish to review.

 

Furthermore, set aside some time to reconcile your accounts in QuickBooks. It helps to ensure that your financial records match your bank and credit statements, maintaining a clear overview of your business's financial health.

 

I truly admire your dedication in ensuring that your financial data is displayed correctly, Laperna. If you have any questions or need further clarification about the process, please don’t hesitate to reach out at any time.

laperna1
Level 2

Invoice for customer entered and did not translate correctly on P&L report???

The amount of the payment is the "it".

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