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In Awe
Level 2

Amount showing in unused account on P and L for two transactions

Help! When I run our P&L I show income in an account we haven't used this year. When I click into the detail, it shows two sales, and one payment for products that I've double-checked are routed to a different income account. I'm not sure why only these two transactions are showing up under this account. I've also gone to the COA and when I run a report on the income account in question, these transactions don't show. It's really strange.

 

Any advice is appreciated.

 

Thank you!

4 Comments 4
LeizylM
QuickBooks Team

Amount showing in unused account on P and L for two transactions

It's nice to see you here. In Awe. Let me help clear this up for you.


In QuickBooks Online, there's a built-in utility that records all your financial transactions in your chart of account. Let’s run the Audit Log report and check your transaction history.


Here’s how:

 

  1. Open your company and head to the Gear icon at the top of your company to choose Audit Log.
  2. This action will open a screen that shows all events that happened in your company.
  3. Set the correct period in the Date changed drop-down and select All Events.
  4. Go to the History column and tap the View link to open the audit history.

 

You can read this article to learn more about what the tool can do and the users created by the online program: Use the audit log in QuickBooks Online.

 

Also, I'm adding this article to know more about running financial reports in QBO: Run reports in QuickBooks Online. It contains steps on how to print, email, and export reports, and articles related to running reports in QuickBooks.

 

Let me know if you have other reporting concerns or inquiries about managing accounts in QBO. I'm just around to help. Take care always.

In Awe
Level 2

Amount showing in unused account on P and L for two transactions

Hi, When I go into the Audit Log, it shows the items being mapped to the correct place, but they still show up on the P&L in a different account. Thoughts on next steps? Thank you!

MirriamM
Moderator

Amount showing in unused account on P and L for two transactions

Hello there, In Awe

 

The income account associated with the item may be different from the others. Let's verify it by going to the Product and Services.

 

Here's how:

  1. In the left menu, click Sales
  2. Go to the Products and services tab.
  3. Locate the item and click Edit under the Action column.
  4. Go to the Income account field and check how it is accounted for.
  5. If you want to update it, choose the correct income account and click Save and close.

 

To learn more about tracking your inventory, see this article for a guide: Add inventory products in QuickBooks Online.

 

Additionally, here's a helpful resource for more information on tracking your inventory: Understanding Inventory in QuickBooks Online

 

Get back to me if you need help with something else. I'd be happy to assist. Enjoy the rest of the day!

In Awe
Level 2

Amount showing in unused account on P and L for two transactions

Hi, Thank you for this, but I've already double checked this. Also we have numerous sales under these products and only a couple are showing in the wrong account. I called in and they're going to have Engineering look at it so fingers crossed!

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