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I need help. I just took over the QB file for an existing customer and need to learn a few more things.
My Problem right now is this
- existing Invoices from 2019 and 2020
- payments where received in 2020
- payment showed up in checking account and I booked it under the customer name etc.
- I also marked the Invoice paid with check
- I believe this is where I made the mistake.
- now in P&L they show up 2x
- how do I fix this?
Thank you.
Hi, Catherina.
Thanks for stopping by the Community, the way to fix them showing up in the P&L twice is to do a reconciliation. To do so, follow along below.
What you enter as the opening balance depends on how you want to handle your past transactions:
You can enter an opening balance for a real-life bank account you just created, or one you've had for a while.
Be careful entering the opening balances for accounts on your Balance Sheet. This includes Fixed Asset, Equity, Long-term Liability, Other Assets, Other Current Asset, and Other Current Liability accounts.
If you're unsure or have questions, reach out to your accountant. If you don't have an accountant, we can help you find one:
If you have any other questions or concerns, feel free to check out this link highlighting the steps above as well as some more additional details. Thank you for your time and have a lovely afternoon.
Hi. I did reconcile the account.
But I feel it has to do with me marking the invoice as paid by check, before I reconciled the account.
Any other solutions?
Hi Catherina. The problem may be in how your received the payment. Check to see if this is the process you used to do so:
If this is the way you received the payment, it should be set up correctly. I would recommend in this case to check your bank register for an actual duplicate. Here's how:
If you find a duplicate simply delete it. If you need anything else, just leave a reply someones always ready to help in the community. Have a great day.
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