Part of our invoice to a customer details our services (funeral services, covid services) and products (caskets, urns, etc.)
The second part of the invoice details items that we arrange for the customer, charge them for such as an obituary in the paper, flowers, death certificates, etc. but turn around and pay the vendor for.
We call it "Cash Advanced On Your Behalf".
It's a wash.
When I pull a P&L there's a Cash Advance Income and a Cash Advance Expense.
I'd like to share some insights regarding the accounts that will show up on your ProfitandLoss report in QuickBooks Desktop.
The Profit and Loss report shows the company's revenues and expenses during a particular period. It indicates how the revenues are transformed into the net income or net profit. This is the reason you're seeing the Cash Advance Income (revenue) and a CashAdvanceExpense (expenses) accounts. They are not the same as they are used for different transactions.
However, if you're looking for the wash account that you've created, this can be found in the BalanceSheet report. It's a financial statement that reports a company's assets, liabilities, and shareholders' equity. This provides details of the transactions for each of your accounts.
To give you more details about the different reports that you can pull up in QBDT together with its corresponding accounts and transactions, please see these links: