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erick-aguayo01
Level 1

I received a payment in January for an invoice that has been open since December & when I put the payment in it is showing it as last years income. How do I fix this?

 
1 Comment 1
JamesDuanT
Moderator

I received a payment in January for an invoice that has been open since December & when I put the payment in it is showing it as last years income. How do I fix this?

Hello Erick,

 

Aside from the transactions you entered in QuickBooks, the reports also base on the accounting method (cash or accrual) you're using.

 

If the report is set to Cash basis, the payment will not display if the payment date is January. You might want to change the Payment date:

  1. Open the invoice payment.
  2. Change the payment date to December.
  3. Click Save and close.
  4. Choose Yes to confirm the action.

If you're using Accrual basis, the invoice should be displayed on the report.

 

I'd also recommend reaching out to your accountant to see if they another option to do this. They know what's best for you and your books.

 

Let me know if you need anything else.

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