I’m doing property rental management and created locations for my owners and their properties (feel free to tell me if that makes sense or not). Created an invoice for a tenant for one of the locations and the profit and loss is showing the transactions twice. One line item showing the invoice and the other showing it as a receivable. If the invoice is for $100, the balance on the P&L for the location is accumulated to $200. Why is that happening and how do I correct it? It even duplicates regular invoices for owner expenses
I understand where you're coming from, @craccbus.
I've got some insights on what transactions appear in a certain report.
When you pull up the Profit & Loss report, you'll be able to see income and expense transactions. The Accounts Receivable account only appears in the Balance Sheet.
To check on the items included in the accumulated balance of $200, I suggest pulling up the Profit & Loss report then opening the transaction specifically to review. I'll show you how:
For more information about the reports, check these out:
It's my pleasure to assist further if you have other concerns about this or QuickBooks. Just leave a comment below. Stay safe!