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Level 1

Full Accounting Entry Visibility

I am using Quickbooks Desktop Pro 2019, and cannot figure out how to see the full (double-entry) accounting transaction that takes place when I record a customer payment. Here's the scenario...  The customer has a balance due of $1500

We receive an payment from the customer of $2000 (a $500 overpayment)

We elect to have the $500 overpayment sit in the customer's account as a credit (which will get applied to next month's invoice).

When I run a 'Profit & Loss Standard' report (Cash basis reporting) and double-click on the Monthly License Fees (the account where we record our revenue), the amount only reflects the $1500 applied against a specific invoice. Where does the extra $500 show up? I would expect the actual accounting entry to look like this:

   dr  Cash   $2000

   cr  A/R                  $2000

Since only $1500 is showing in the Cash basis Monthly licensing fees... I want to see the actual accounting entry -- and have NOT been able to figure out how to find this. Question... How can I run a report that would show the full accounting entry in Quickbooks?

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Anonymous
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Re: Full Accounting Entry Visibility

In Desktop Pro 2017 the answer is : open the transaction document on-screen
then from the top line menu in that window: Reports / Transaction Journal

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