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Level 1

Chart of Accounts has changed from "Income" to "revenue". Why? How do I undo that?

 
5 Comments
Level 7

Re: Chart of Accounts has changed from "Income" to "revenue". Why? How do I undo that?

Personally, I would keep as Revenue as the first account on P&L (Income Statement) which is the accounting term learned in college and used in every other accounting system I have ever used except QB.  Net Income (loss) is the last line at the bottom of P&L (Income statement) in my world.

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Moderator

Re: Chart of Accounts has changed from "Income" to "revenue". Why? How do I undo that?

Hello sascha,

 

Due to customer feedback and suggestions, the account name was updated from Income to Revenue. I also agree with Teri that the term "Revenue" is mostly used by other accounting systems. 

 

We won't be able to change this update on our own. You can send feedback to our Product Development Team about this. They'll put your idea into account for future product updates.

 

You can always reach out to us if you need anything else.

Level 7

Re: Chart of Accounts has changed from "Income" to "revenue". Why? How do I undo that?

James DuanT - 

Thank you so much!  I have been trying to get this changed for decades to be consistent with all.

Good to see things do change if you keep pushing.

Cheers!

Teri

Level 1

Re: Chart of Accounts has changed from "Income" to "revenue". Why? How do I undo that?

Please help. My QB online account still states Income at the top of the P&L and I want it to state Revenue. 

 

I'm happy to see that this change has happened for other people. How do I get my QB to update to state Revenue instead of Income?

 

Thank you. 

QuickBooks Team

Re: Chart of Accounts has changed from "Income" to "revenue". Why? How do I undo that?

Hi there, Racer22.

 

Let's make sure you used the Company type for Nonprofit organization (Form 990) and change the customer label from your Account and Settings. This will help update the reports in QuickBooks Online (QBO).

 

To verify company type:

  1. Go to the Gear icon and choose Account and Settings.
  2. Choose the Company tab.
  3. Click the pencil icon from the Company type section.
  4. Select Nonprofit organization (Form 990) as your Tax form. Then, Save.

QBOcompanytype.PNG

 

To change customer label:

  1. Go to the Gear icon and choose Account and Settings.
  2. Select the Advanced tab.
  3. Under Other preferences, click the pencil icon.
  4. Choose Donors from the drop-down.
  5. Click Save, then Done.

Once done, you can open the report to see the changes. However, if this doesn't work, we may need to perform some basic troubleshooting steps to better isolate this.

 

Let's try using a private window to verify if this has something to do with the browser you’re using.


Here are the following keyboard shortcuts that you can refer: 

  • Press Ctrl + Shift + N keys on your keyboard (Google Chrome)
  • Press Ctrl + Shift + P keys on your keyboard (Firefox or Internet Explorer)
  • Press Control + Option + P keys on your keyboard (Safari)

If you're able to enter the credit card information using a private browser, you’ll want to clear the cache of your browser to prevent unexpected behavior in the product. Otherwise, switch to other supported browser.

 

Let me know if you have other question by leaving a reply below. It's my pleasure to help.

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