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craccbus
Level 1

Locations duplication

Hi all

 

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

3 Comments 3
Rustler
Level 15

Locations duplication

The first issue is that the receivable does not belong on the P&L, a receivable is on the balance sheet

 

 

craccbus
Level 1

Locations duplication

So you can appreciate my confusion then?

Mich_S
QuickBooks Team

Locations duplication

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:

 

  1. Open the Reports menu from the left pane.
  2. Search for the Profit & Loss report.
  3. Locate the $200 transaction in question.
  4. Click the amount to open. then review and make some corrections.
  5. Once done, click on Save and close.

 

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!

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