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nancyl
Level 5

Profit and Loss help

When I run the Profit and Loss why to Invoices and Check show up which includes Accounts Receivable and Accounts Payable?  I really need help.  PLEASE HELP!!!

3 Comments 3
JasroV
QuickBooks Team

Profit and Loss help

Hi there, @nancyl.

 

The Profit and Loss report shows you the total income and expenses you made. It is also designed to show double-entry to know which accounts are being debited and credited.

 

Clicking the account in the report will open the Transaction Detail by Account report and shows and Accounts Payable and Accounts Receivable. 

 

Furthermore, here's an article you can read to learn more about reports in QuickBooks Desktop: Understand reports.


Do get back to me if there's anything else you need help with. I'm more than happy to help you anytime. Have a great day and keep safe!

nancyl
Level 5

Profit and Loss help

Thank you for the info.  Do you know why some customers invoices show a balance when in fact there isn't one?  

MaryAnn_E
QuickBooks Team

Profit and Loss help

Hello there, @ nancyl.

 

Let’s run a Quick Report for your Accounts Receivable to see if there are invoices that are unpaid and payments that are still unapplied. Let me show you how:

 

1. Go to the Lists menu and click Chart of Accounts.

2. In the Look for an account name or number field, type Accounts Receivable

3. Click Search then from the result list, select the account, and right-click on it. 

4. Select QuickReport

5. To add the Paid status, click the Customize Report button. 

6. In the Display tab, select the Report Date Range to All.

7. Enter in the Search Columns field, Paid

8. Go to the Filters tab and enter in the Choose Filter field type Paid Status.

9. Select Open to view all unpaid invoices then click OK

 

 

From there, we can double-click on the transaction to see if it's a duplicate or check if there's a payment link to an invoice. If it's unpaid, then you can create a receive payments transaction to link the invoice.

 

You can check this article for a detailed steps on how to record a payments: Record an invoice payment.

 

 If you need help, you can always mention me. Take care.

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