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Join nowHi there, ballane89.
I can share some information about how QuickBooks populates the data in your financial reports.
Usually, the amount of the deposit will show as negative in the Profit and Loss report if it was posted to an expense account. On the other hand, a deposit will become positive if it's categorized as an income.
To isolate the issue, you'll want to open each transaction and check if it was posted to the correct category. This way, you can ensure that your books and reports are accurate and up-to-date. Here's how:
Additionally, I've included some articles that will help you track and monitor how your business is doing in various areas:
Do let me know if you have any other questions by dropping a comment below. I'll be around to provide answers and clarifications.
Hi ballane89,
Hope you’re doing great. I wanted to see how everything is going about the negative deposit in your Profit and Loss. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at anytime.
Looking forward to your reply. Have a pleasant day ahead!
I still not getting it because I ran the report when to that category and everything is shows as expense and paid thru operation account .
Thanks for letting us know, @9130647079757846.
Let's resolve the deposits that show as a negative expense. If you have a negative deposit by your merchant services processor, you'll need to move the expected deposits from the Undeposited Funds account to the appropriate bank account via Journal Entry. Then, we'll have to group it with the payments to create a $0 deposit and remove the payment from the Undeposited Funds account.
Before diving in, let's make sure that you're using the Accountants view so that you'll have the option to create a journal entry:
Here's how to create a journal entry:
This process will record the deposit as a deduction from the bank.
Once done, you can follow the steps below in grouping the journal entry to the payments:
If you use journal entries to record your recent transactions, you can refer to this article in printing a single or multiple entries on a report: Print a journal entry report.
If you have followed the outlined steps, and are still experiencing this issue, I'd love to hear more about what you tried so we can explore other options. I look forward to seeing you here! Take care.
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