Inconsistency in reports

Your P&L should never show this: "It shows duplicate payments (received) entries for six customers."

Because you told us you use Invoices. The left column for the P&L detail is Transaction Type. You should never see DEP or PMT here. If you see DEP, that is an error entry. That is posting to Income directly and Manually; this often happens from banking downloads.

Here is the process: your Invoices have charge items and these typically are income, and there might be a sales tax entry here, too. That means this is the Sale. The INV, then, is creating Income. The Payment processed against the income controls if the INV is paid or not, and controls what shows on Cash vs Accrual Basis. For Accrual Basis, the invoice shows as income, even if never paid. On Cash Basis, the invoice shows as income, but you will notice the date of the invoice on the Invoice, is not the same as the Cash Basis Sales or P&L Detail; the payment Date is used for that reporting of that invoice.

And for Cash Basis reporting, if the customer pays in partial amounts against the same invoice, the invoices shows more than one time, each item is Allocated, for the various payment dates, but that is Partial amounts, not Original Amount, as paid. Example:

$100 sale + 7% tax = $107 owed. If I pay $50 first, that is 50/107, in that ratio = income is 47% paid and Sales taxes is 47% paid, for cash basis reporting.

If you run a standard balance sheet, do you have any balance in the undeposited funds account?  A common mistake is to receive a customer payment and not using the MAKE DEPOSIT function and checking off all the payments that make up the deposit.  If you enter the deposit on a blank deposit form, you are basically doubling up on income.

I'm not certain why you assumed that I use QB invoices, if that's what you are suggesting.  I don't.  I prepare my own invoices and simply enter the data in the form that is produced in Customer Center, New Transactions, Invoices.  When I receive payments I enter that information in    Customer Center, New Transactions, Receive Payments.  In all but these 6 accounts there appears an invoice amount and a payment received amount.  In the 6 I wrote about those entries appear twice, one after the other.

As for the rest of your comments, there are no bank downloads.  Cash basis.  Partial payments are not present and were not implied.

Thank for your response but you read a lot into my question that was not there.

I will check that report.  Thank you.

No "undeposited funds.

"I'm not certain why you assumed that I use QB invoices"

Well, this is a QB forum and you told use you use Invoices in Customer Center. So, if that isn't really what you are doing, then how did you Enter the sale?

"and simply enter the data in the form that is produced in Customer Center, New Transactions, Invoices."

Yes, that is an Invoice. I think you just don't Send That to the customer. Otherwise, everyone is using the same Words. Thanks.

"When I receive payments I enter that information in    Customer Center, New Transactions, Receive Payments.  In all but these 6 accounts there appears an invoice amount and a payment received amount.  In the 6 I wrote about those entries appear twice, one after the other."

Make sure to examine what you listed for the Charge Items on the invoice. If you link one to AR or use one linked to Bank, that would be an error. The process you use, these Transaction or Screen Form Inputs, already do the AR and Banking for you.

"Cash basis.  Partial payments are not present and were not implied."

Sheesh; we are Volunteers willing to share what we have seen that can cause this condition. Not Implied and not stated, doesn't mean Not Happening. I thought you wanted help on something we cannot even see?

"Thank for your response but you read a lot into my question that was not there.'

If you want one-on-one help, you would hire someone. If you want Ideas for what might be going wrong, we are glad to help, as Peer users. It's your topic, though, so it helps if you participate and don't just scold us for "making assumptions" when we look at this all day, too, and have seen lots of the errors people tend to make.

It is also possible that you accidentally did the same work Twice, you know. We've all done this, unintentionally, of course.

You can simply delete Duplicates.

I'm dealing with this issue as you stated here. On my profit and loss detail I see the words Deposit for specific line items. I double click on them and they are the physical deposits that ran through the bank account. I do not want to just delete these do I? If I do won't I just lose all the record in quickbooks of receiving payments for open invoices in quickbooks?

Hi qbteachmt,

We are dealing with this same issue currently as you stated. Our profit and loss sheet detail lists out specific line items of "Deposit". When we double click onto the line item, it opens up the transaction detail. Should we be deleting these transactions from the bank in quickbooks? We do not want to lose our records showing that our outstanding invoices (that were created in quickbooks) have been paid. Can you please explain in more layman's terms how we can fix our situation? We appreciate all the help....

Hi DignityFire,

Deposit entries on your Profit and Loss report? As far as I am concern, a deposit would only show up in the Balance Sheet report. Let's check what happened to your P&L and fix it.

First of all, it's safe to back up your company file before making any changes to your transactions. 

We will find out if the deposits are duplicate entries or not. If they are not duplicates, they should be linked to your invoice payments, which are linked to your invoices. You can open a few deposits and click the History icon beside the Journal icon. In the Transaction History window, you should see where the money was originated. If the deposits are not linked to any payments, think if there are really made intentionally or not. If not, delete them.

Duplicates can also be coming from Bank Feed entries. Sometimes, a user will just add downloaded transactions to bank registers instead of matching them. This is okay if you haven't created the transactions in QuickBooks yet.

Let us know what you will find out, so we can continue with this. We'll do this step-by-step to avoid deleting correct entries.

I know that they are not linked to the invoices we created in QuickBooks as we were unaware how to do the linkage until I found out yesterday about this situation. We have deleted the incoming deposits from the bank feed. Our problem now is that our bank dollar amount is wrong (way off). I am thinking we are going to re-add in the deposits, and properly link them to the invoices that we have already marked paid in quickbooks.

I will reach out if there are still more issues...