Invoice payment receipt and bank deposit duplicating P&L values

Welcome to the Community space,

I'll help you track your double income in your Profit and Loss.

QuickBooks Self-employed doesn't have a matching feature. So, if you're using QuickBooks Online, I can provide you steps tracking your duplicate income showing in your Profit and Loss.

One possible reason for your double income in the Profit and Loss report is that you may have received payment, but the deposit to that account was still in the Undeposited Funds when matching it to your bank feed. To fix it, you'll need to Undo the one you have categorized. Then, create a Bank Deposit from your Undeposited Funds. Follow the steps below:

1. From the Banking menu, click the bank where the deposit came from.
2. Select the Reviewed tab, and look for the deposit.
3. Click Undo under the ACTION column.

 Here's how to create a Bank Deposit.

1. Go to +New, then Bank Deposit.
2. From the Account dropdown, choose the money you want to the money into.
3. Tick the checkbox for each transaction that you want to combine for that deposit.
4. Once done, select Save and close.

After making the bank deposit, you can finally match it to the deposit on your bank feed and run a Profit and Loss report to check.

Moreover, I'm adding this article as your reference in setting up bank rules: Set up bank rules to categorize online banking transactions in QuickBooks Online.

Return to this post if you have other concerns about matching your transactions in QBO. The Community is always here to help.