Moving deferred income (Liability) to income.

We can use the journal entry to transfer your deferred income (liability) to income in QuickBooks Desktop (QBDT), @GCHIAP. I'm here to assist you with the steps.

Before proceeding with the steps, I recommend asking your accountant for assistance with the account type that is the best to use. Also, they can help your financial data stay accurate.

Here's how:

1. Select the Company tab.
2. Click Make General Journal Entries.
3. Select the income accounts from the Account field and enter the corresponding amount in the correct column.
4. Check the amounts. The Credit column on one line and the Debit column on the other should have the same amount.
5. Select Save & Close.

If you are interested in sprucing up your reports in QuickBooks Desktop, you might find this article helpful: Customize reports in QuickBooks Desktop. It offers detailed information on personalizing reports to suit your needs.

Keep this thread handy for future questions or concerns about your account in QBDT. My team and I are here to ensure you feel supported and confident in managing your finances. We always look forward to assisting you.

@GCHIAP 

You can make a journal entry that look like this:

Or, you can create a $0 invoice that has the income item entered as $10,000 and a deferred revenue item (set one up if you don't have one) entered as -$10,000.