My P&L does not show my income accounts the way that I want. I need 3 accounts: Original, Mixed, and Coconut. When I create an invoice to record the A/R QBO does not allow me to select these 3 accounts that I created. The P&L shows the income in SALES OF PRODUCT INCOME and in SERVICES.
When I go into the Product/services information screen the names of the new accounts that I created are listed in the Income Account at the bottom. How can I get my income amounts into the 3 accounts that I created?
I would attach screen shots but I keep getting an error that the file is too large. Thanks.
Thanks for your response, Glinette. My P&L report defaults to the current period (at this time it is January - December 2020). I have to admit that I don't fully understand your response about the linked income accounts. When creating an invoice the income accounts that I created were not available to me. Instead it shows a "Product/Service". Attached is a screen shot file.
Interestingly enough, the Transaction Detail by Account report does show the three income accounts ORIGINAL, COCONUT and MIXED with the correct items and totals. So how do I get these three account names to appear in the P&L report?
Thanks for getting back to us, Boche. Let me share additional insights about how Income account works in QuickBooks Online.
The Income account that shows on the P&L depends on how you set it up and which account used to be affected.
When creating the invoice, we're unable to select the Income accounts directly for (Original, Mixed, Coconut). We'll have to create the sales items and associate them with the income account. Please be reminded that we can only assign one income account per item.
Moreover, when pulling up the Profit and Loss report make sure that invoice dates are part within the reporting period, the right accounting method, and income accounts are associated with the items used when creating the invoices.
Please get back to this thread if you have any additional income account concerns. I'll be right here to keep helping.