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Vhead8263
Level 1

Journal Entry

How do I do the following:

 

We had an event that raised $10,360 the venue subtracted costs of $4,138 so we received the balance of $6,222 in a check form.

 

How can I show the $10,360 as income not just the balance of $6,222 so it will show on the Profit & Loss report.

 

How do I show the actual expense of $4,138 show it also shows on the P&L report?

 

Thank you for your help.

Solved
Best answer October 26, 2021

Best Answers
Rustler
Level 15

Journal Entry

There are several ways to do it, one way is

 

book the total income of 10,360

and on the make deposits window, on the next line select the venue expense account and enter that amount as a negative number

View solution in original post

3 Comments 3
Rustler
Level 15

Journal Entry

There are several ways to do it, one way is

 

book the total income of 10,360

and on the make deposits window, on the next line select the venue expense account and enter that amount as a negative number

View solution in original post

Vhead8263
Level 1

Journal Entry

Worked like a charm! Thank you so much for your help!

MonicaM3
Moderator

Journal Entry

Great news @Vhead8263!

 

Thanks for circling back to let us know this worked for you. Feel free to drop in any time we can help with questions about your QuickBooks.

 

Enjoy your day!

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