I've reconciled a full year of transactions in QBO against the bank statements. Yet when I run a P&L for the year, the revenue is doubled. Not sure why? Owner only sends out invoices, I do the review/categorization of the transaction. Any suggestions?
Thanks for the response! I believe it is a case of a bit of both of those scenarios... the part that i am struggling with is that i have reconciled the entire year with no issues..does that mean that reports are not driven by reconciled accounts by by reviewed transactions?
I'll review the article, but may be back for more questions!!
Reports aren't driven by reconciled accounts since reconciliation and income reports are separate. As mentioned by @IntuitLily, the transactions coming in from the bank feeds may be posted on the income account which cause duplicate transactions once transactions are added. You'll want to match the transactions instead of adding it to prevent duplicates.
Another reason why you're seeing double revenue is if you've received payment and deposited it to Undeposited funds. When transactions were downloaded you've added them as income.