Hello, So I created an estimate, then from there created and invoice and received payment on the invoice. If I look back at accounts receivable it is listed and the deposit is in the checking account as deposit. When I run reports the money deposited doesn't show up in reports as income. What have I done wrong?
Are you running cash basis or accrual basis reports? In accrual basis, the income will show up in your reports as of the date of the invoice. In cash basis, the income will show up when you receive payment.
Hello there, @John J.
Allow me to help share information about invoices and deposits in QuickBooks Desktop (QBDT).
When creating an invoice in QBDT it increases your accounts receivable and your income account. Once you receive and deposited the payment, it increases the amounts on your bank account and decreases your accounts receivable. It doesn't affect any income account reason why it won't reflect as income when running your reports.
The deposit reflects as income when you've created the deposit directly and not as a payment of an invoice.
To learn more about deposits in QuickBooks, you can check this article: Deposit customer payments.
Please don't hesitate to add a comment below if you have any other questions about deposits, I'll be right here to help you. Have a good one!
Thanks for sharing the screenshot, John J.
It looks like you'r using QuickBooks for Mac. I would recommend reaching out to our phone support for QB Mac. They will be able to double-check your reports to determine why the invoice isn't showing up as part of your income. Here's how:
You can always visit us again in the Community if you have other questions.