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Join nowYou have to go back to your item list. You have the items set-up incorrectly. Either you are pointing invoice items to an expense account or you are using the same items on both bills and invoices. If the second is the case, you need to set this up as a double sided item. Check of the box on the item that reads this items is used in assembles or performed by a subcontractor.
The box will then split and you can assign an expense account as well as an income account. When prompted say YES to changing existing transactions.
Hi,
I like purchase orders. It's handy to take an estimate and convert it to a PO for subcontractor. However, it's not so pretty when the bills or checks show up in the "Income section", the top half of the income statement. Other than journal entry to kill the bills, checks.. is there any way to fix how the purchase orders affect the income?
Why wouldn't it just show up in the COGs account as edited in the item setup?
For instance, I create an estimate for $1,000. Custom Coffee Table.
I have subcontractor who will do it for $500.
Item setup -- two sided. INCOME = coffee table income; COG is Sub-labor
create a po for $500.
write a check or enter a bill for $500
invoice customer for $1,000
P&L shows $500 in the income portion and $0 in expense/cog.
Why? Because PO bills and checks post in the "income" portion of the P&L.
Any ideas on how to fix this?
Deb C
Thanks for joining the thread, DebC-TSB,
Allow me to get the help you need to ensure that the invoice will be posted in Cost of Goods Sold (COGS).
Before editing the invoice, it wasn't posted to COGS. So now that it's been edited it still didn't shows up.
To get this resolved, you can delete and recreate the invoice. To delete the invoice, here's how:
Once done, kindly check if your transactions was accounted properly.
Please let me know how it goes. You can always count on me in managing your account. Have a great day!
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