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T
Tom208
February 15, 2024
Question

Customer invoice

  • February 15, 2024
  • 1 reply
  • 4 views

I am trying to invoice a client for Royalty fees, and have the income show up as Royalty Fees in other income on the Profit & Loss.

i had set up royalty fee as a Service. 
I set up category as Royalty fee. I checked that I sell this to customers.

i linked the income acct to royalty income. 
However, the income shows up as “Services” under income on the P&L?

What am I doing wrong?

thanks all for any help provided.

1 reply

J
JuliaMikkaelaQ
Level 2
February 15, 2024

I appreciate the detailed steps you've shared for recording royalty fees, @Tom208. Let's work together to fix this so you can record the customer invoice and see the royalty fees under Income in the Profit & Loss report.

 

In QuickBooks Online, the data that will show on the reports are based on the data entered in the program. Thus, let's make sure that everything was recorded accurately and correctly. Since you're seeing Services in the report, I recommend reviewing the account name for your Royalty fees in the Chart of Accounts. Here's how:

 

  1. Click the Gear icon, then select Chart of Accounts.
  2. Enter the account name in the Filter by name or number field.
  3. Review its Account Type and the Detail Type. 
  4. In the Action column, select Edit if you want to change the name, then click Save.

 

 

If you verified that the account name is correct, let's check the service item to verify if the income account you assigned is the Royalty Fee income account.

 

Then, when running the report, you'll have to ensure to set the appropriate reporting date or accounting method to show all related income accounts. Also, you can click the amounts on the report to check if this is related to the royalty fees. 



In addition, you can find a variety of ways to run and customize your reports in QuickBooks Online by referring to the following articles:

 

 

You can also record the invoice payments once you receive them from your customer to mark the existing invoice as paid. 

 

If you need further assistance or have any other questions, please don't hesitate to reach out. We are here to help and provide support. Have a wonderful day!

T
Tom208Author
February 15, 2024

Thank you for your reply. 
Where do I find the categories to edit? I cannot see a way to edit the categories? I think that is where the issue is?

Fyi- the royalty account is set up ok, but still trying to find the disconnect?

S
SarahannC
Level 9
February 16, 2024

Hi Bryan, 

thanks for your input.

 

i had already had everything as you had suggested and it does not fix the issue. 

another thing that is odd, is that when I go to chart of accounts, and run the report for royalty fee, there is no data in the report?


but what is interesting is that when I go to the P&L, it still shows up under Services? 
this is despite the fact that I have it set up under royalty fee under “other income”?

 

 


I appreciate you for returning to this discussion and taking into consideration the advice given by my colleagues, Tom208.

 

Great job for resolving it, Tom! The Profit and Loss report displays the accounts where they belong based on the account type used. If you created it under the Other Income account, it should appear under the Other Income account. Moving forward, make sure to apply the appropriate Income account in your item and use that item when you create a transaction to get the data on the report.

 

On your next concern, yes, it's possible in QBO. If you're using QBO Plus or Advanced, you can utilize the Billable Expense feature. When you enter the electric bill as an expense and mark it as billable to the tenant, you can then invoice the tenant for this billable expense. Check this article for more tips: Enter billable expenses in QuickBooks Online. 

 

Lastly, you can check this article for tips about personalizing sales forms: Customize invoices, estimates, and sales receipts.

 

Know that you can always post in the Community if you have other questions about running reports. I'll be around to help.

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