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kelz80
Level 1

Overstated revenue on form 1065

Our company's previous tax guy overstated our revenue by $41 on our 1065 back in 2018.  Is there a way to correct this in QuickBooks? And do I file an amended 1065?

2 Comments 2
CharleneMae_F
QuickBooks Team

Overstated revenue on form 1065

Good day, kelz80.

 

I'm here to share some details on how to file the amended 1065 form.

 

Since the overstated revenue is way back in 2018, you'll have to file the amendment form outside QuickBooks. Then, edit the transactions within the program. Before doing so, please ask for assistance from your accountant. The process may affect your reconciliation. If you don' have any, please click this link: https://quickbooks.intuit.com/find-an-accountant/, to find one.

 

To know what are the causes of overstated revenue to prevent them in the future, please check out my colleague's instructions on a previous thread: https://quickbooks.intuit.com/learn-support/en-us/account-management/my-revenue-is-overstated-by-the....

 

Additionally, learn how to track your cash flow in QuickBooks Online. This helps you get a clear look at your current and future business's finances. 

 

Please know that I'll be glad to help you again if you have other QuickBooks-related questions. Just add the details in the comment section.

CharleneMae_F
QuickBooks Team

Overstated revenue on form 1065

Hi kelz80,

 

Hope you’re doing great. I wanted to see how everything is going about filing your amended 1065 you had yesterday. Was it successful? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at anytime.

 

Looking forward to your reply. Have a pleasant day ahead!

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