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sacwc
Level 1

Product sales receipts are showing as another asset category in Balance Sheet

 Our balance sheet is including all product sales Receipts as another asset category. Amount related sales is already reflected in our bank account,  so how to avoid them showing up in balance sheet?

Solved
Best answer March 09, 2023

Best Answers
FateCandylaneT
QuickBooks Team

Product sales receipts are showing as another asset category in Balance Sheet

Thanks for reaching out to us, sacwc. Let me ensure how you can avoid these sales receipts from showing up as other assets in the Balance Sheet.

 

To ensure these sales receipts will no longer appear as other assets in the Balance sheet, let's make sure the product item is associated with an income account. 

 

 Here's how to change the asset category to an income account:

 

  1. Go to the Products and services from the Gear icon. 
  2. Locate the products and service items, and click Edit.
  3. Change the other asset category into an income account.
  4. Review other necessary details. 
  5. Once done, click Save and Close.

 

Moreover, you can check out this article to guide you further in reviewing your financial data in your business: Run reports in QuickBooks Online.

 

Keep us updated in the comments below if you require additional assistance managing your business financial accounts. We'd be happy to help you anytime. Keep safe!

View solution in original post

1 Comment 1
FateCandylaneT
QuickBooks Team

Product sales receipts are showing as another asset category in Balance Sheet

Thanks for reaching out to us, sacwc. Let me ensure how you can avoid these sales receipts from showing up as other assets in the Balance Sheet.

 

To ensure these sales receipts will no longer appear as other assets in the Balance sheet, let's make sure the product item is associated with an income account. 

 

 Here's how to change the asset category to an income account:

 

  1. Go to the Products and services from the Gear icon. 
  2. Locate the products and service items, and click Edit.
  3. Change the other asset category into an income account.
  4. Review other necessary details. 
  5. Once done, click Save and Close.

 

Moreover, you can check out this article to guide you further in reviewing your financial data in your business: Run reports in QuickBooks Online.

 

Keep us updated in the comments below if you require additional assistance managing your business financial accounts. We'd be happy to help you anytime. Keep safe!

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