the rev rec module double booking revenue from an quarterly invoice

Hello there,

You'll want to review the transaction history for the invoice, credit card payment, and any related transactions to ensure there are no duplicate entries or errors. Or you can check the line item directly, check its associated transactions, and see if you can delete it or leave it as is.

I'll leave this article for future reference: Enter expenses, pay bills, and write checks. 

Feel free to post here again if you have further QuickBooks-related concerns. We are available 24/7 to lend a hand with each of your queries. Stay safe!

That's the crazy thing....when there were two line items showing the amortization of revenue into the revenue account, both line items referred to the invoice that caused the amortization of the revenue, but when I deleted the invoice, one line item of revenue still remained.   This seems like some major bug in the rev rec system.  We can not have our revenue being overstated.

Hello djwiecek1,

I appreciate you for keeping in touch with us here in the Community. Allow me to step in and help you identify the cause of the issue in QuickBooks Online.

It may have something to do with how you set up your revenue recognition in the Advanced version. I recommend running the Revenue Recognition report to review the line item.

You can see the billed and recognized amounts in the Deferred Recognition Detail for each column. Here's how:

1. Log into your QuickBooks account.
2. Go to Business overview and select Reports, or go to Reports.
3. In the search bar, search for and open Revenue Recognition Report.

If the problem persists, please proceed with contacting our QuickBooks Support Team. They can further assist you with the remaining line item showing on your account.

Our support for Plus, Essentials, Simple Start is available from 6 AM - 6 PM PT (Monday - Friday) and 6 AM - 3 PM PT (Saturday). For Advanced, any time, any day.

Here's how you can reach them:

1. Click the Help tab in the upper-right corner.
2. Go to the Assistant tab.
3. Click Get help from a human.
4. Choose Chat with us or Have us call you.

The accounts in the chart of accounts categorize your transactions on everything from sales forms to reports to tax forms. To learn more about how it works, check out this article: Learn about the chart of accounts in QuickBooks Online.

Keep us posted if you have more questions about the double booking you're referring to in your account. We'll be around to help. Keep safe.

I've run the rev rec report you speak of.  The transaction does not show up.  I've deleted the original invoice, so it makes sense that the transaction doesnt show up on the rev rec report.  What is bonkers, and maybe I'm not explaining this properly, or I'm misunderstanding something about how it should work, is that there is no invoice, which is how the rev rec should be started.  The invoice should contain an product that has a set of rev rec rules tied to it.  And then then the appropriate month comes and goes, the rev rec should amortize 1/12th of the revenue, which should show up in the revenue account.  If the invoice is deleted, the rev rec has no rules to run off of and there should be no revenue for this customer on the PnL.  There currently is revenue for the customer in the month of August for the amount that was supposed to be amortized and recognized if there was an invoice for the customer.  It's whacky and a problem.  

I appreciate you for coming back to the thread and clarifying your issue about entries with revenue recognition in QuickBooks Online. Let's perform some troubleshooting steps to fix the issue, 

Beforehand, please know that an item or entries that is tied to revenue recognition won't show on the Profit and Loss report. This will only appear on the Revenue Recognition report. With this, I recommend reviewing the item's details to verify if the item you've used in the invoice is tied to revenue recognition.

 Here's how:

1. Click the Gear icon at the upper right corner.
2. Choose Products and services.
3. Locate the item and click the Edit link.
4. Review the information. 

Once verified that the item isn't allocated to the revenue recognition, you'll then verify if the invoice you've deleted is correct. The deleted entry should no longer shown on the Profit and loss report. To verify this, I suggest visiting the Audit log page. From there, you'll see the list of the company's activities and the changes that have been made.

If the issue persists, I suggest accessing your QBO account through a private window to narrow down the result and protect your browser against cookie-based tracking. You can use either of these keyboard shortcuts to save you time:

• Google Chrome: press Ctrl + Shift + N
• Microsoft Edge: press Ctrl + Shift + N
• Firefox: press Shift + CTRL + P

If it works, clear the cache of your original browser to start fresh. If the steps above don't work, use another supported browser.

Lastly, refer to this article to see details on how the posting frequency of the rev rec is calculated every month: Set up a revenue recognition schedule in QuickBooks Online Advanced.

Please let me know if you have any other questions about this issue. I'm always here to help, djwiecek1. Have a good one!

Ok, this reply isnt really for any moderators or anyone to provide help.  It's to tell any customer/user of quickbooks online that they need to be checking their revenue.  The rev rec system (which is so new, some, if not most of the support that you initially get, wont be able to help you with questions about it) is very new.  The bugs are still being worked out.  That being said, it's on us (the customers) to check our revenue.  At our company, we process anywhere from 1500 to 5000 cc payments transactions per month.  Going through and checking the revenue that the rev rec process has posted is not going to be fun.  But, I have a plan, and after this debacle, I need to do it.  There was a double posting of revenue.  I was on a chat with support for 3.5 hours and no one could tell me what caused it.  The best they could do (which, admittedly, I was unable to figure out) was how to delete the second revenue entry.  That was part of the problem, that off of an invoice, two line items of revenue got generated from the automated rev rec process.  They were identical, as they had the same transaction number, and they both affected the revenue account's balance.  I got rid of one by deleting the originating invoice, but that left one line of revenue that was a mystery.  Anyway, it's gone now, but the understanding of how/why it happened is also nonexistent.  So, my plan is to download drilldown data to spreadsheets of each category of revenue, per month (the past three) and sort by name and then do a conditional formatting to highlight for duplicates, and then scrutinize those duplicates.  I urge anyone that made it this far in the thread (and this comment), to do the same.