Quickbooks 2020

omnielectrical · ‎June 01, 2020

I had this problem with an older version of Quickbooks (2016) and since I did not know why it happened I bought the latest version (2020) thinking that it would be fixed - yet 2020 does the same thing.

I am a Cash Basis customer so when I run my P&L Standard - any invoice I record an A/R payment in the current year appears in the Revenue section regardless of the original invoice date.

For example - Dec 2019 invoices - payments recorded in Jan 2020. This is the correct presentation.

My problem is that when I run P&L Detail for the same time period - the invoices that I record an A/R payment for (2020) dated in a previous year (2019) do not show up even though the payment was recorded in Jan 2020.

P&L Detail should show the detail of P&L Standard but it does not. Why?

Kristine Mae · ‎June 01, 2020

I'd like to ease your confusion, Omnielectrical.

When you run the Profit and Loss on a cash basis, the invoices will show up on the payment dates. Invoice payments will not show because they don't use income accounts.

You can pull up other sales reports that will show you the customer's payments instead. Or, customize the reports so you can focus on the information that you need.

If you have additional questions, please don't hesitate to click the Reply button below.

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