Deposit made in 2019 is showing on 2020 P&L

Glad to have you here in the Community, @asyawinter.

The deposits show in the profit and loss depends on the accounting method that you use. If you run the cash method, the report will count income as happened when you got the payment. However, if it's accrual, it reports income based on the invoice date.

You'll have to make sure to select the correct accounting basis. Also, select the accurate date range.

I also include this article that can be handy in the future with setting up accrual reports in QuickBooks Desktop that would help you verify your business' money movement: Differentiate Cash and Accrual basis.

I'm more than happy to jump back on if you have any other concerns about QuickBooks. Please let me know by adding a comment below.

Hi Maybelle_S,

I am using cash basis and generating the report as such. I've also checked my dates and they too are correct. I have a couple invoices that there were payments made to that invoice in both 2019 and 2020, when I go back to the invoice and click on the specific payments the dates are showing as the date the final payment on the invoice was made instead of the date that I actually received the payment.

For example:

A payment was deposited on 6/3/19

The final payment of the invoice was paid and deposited on 9/14/20

The payment made on 6/3/19 and the payment made on 9/14/20 are showing as paid on 9/14/20 and the amount paid on 6/3/19 is showing on my P&L as part of the total income for 2020.

It seems like the dates of all the payments were changed to the date the final payment on the invoice was made?

Thanks for coming back to us, @asyawinter.

Usually, this error occurs when your data is damaged or corrupted. We can run the Verify/Rebuild tool utility to detect the data damage. 

Here's how:

1. Go to the File menu, then hover over Utilities.
2. Select Rebuild Data.
3. On the QuickBooks Information window, select OK. Follow the onscreen steps to save a backup.
4. Let the tool repair your file. It may take some time. QuickBooks may seem stuck, but as long as you can move your mouse, the tool is working.
5. When the tool finishes, select OK.
6. Go to the File menu, and then hover over Utilities.
7. Select Verify Data.
8. Let the tool check your file for data issues.

If QuickBooks doesn't find any problems, select OK. However, if QuickBooks finds an issue with your company file, click Rebuild Now.

Also, make sure QuickBooks has its latest release. This is to ensure that everything is up to date.

Check out this article on how QuickBooks generates reports in QuickBooks Desktop: Understand reports.

Also, this guide provides an overview of how to keep the customization set on the report: Create, access, and modify memorized reports.

Feel free to visit the Community again if you need help when working in QuickBooks. I’ll be right here to assist further.