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sales130
Level 1

Under repair n maintenance, why does it place my service jobs as an expense?

 
9 Comments 9
ChristieAnn
QuickBooks Team

Under repair n maintenance, why does it place my service jobs as an expense?

Hi there, sales130.

 

Welcome back to the QuickBooks Community. I can share information on how an entry works with accounts in QuickBooks Online.

 

The chart of accounts is a list of all your company's accounts and their balances. You use these accounts to categorize your transactions on everything from sales forms and each account has a transaction history and breaks down how much money you have or owe.

 

QuickBooks uses the account that you set up on the Product and Service page. That said, it could be the income account of the service jobs is tagged under Repair and Maintenance, which is an expense account in the COA. To fix this, I suggest changing the item's income account to the correct category. While doing this, I also recommend consulting an accountant for additional guidance with posting entries to the correct accounts. This way, you're able to make sure that your account stays accurate.

 

Here's how:

 

  1. Go to the Gear icon. Then, select Products and Services.
  2. From the Action column of the appropriate item, click Edit.
  3. From the Income account drop-down, choose the account you want to use. 
  4. Hit Save and close.

 

For additional information, you can click this article: Change the account for a product/service item.

 

Please refer to this article to view various details about the four-item types in QBO to help you categorize the products and services for better tracking: Change product and service item types in QuickBooks Online.

 

I'd like to know how you get on after trying the steps, as I want to ensure this is resolved for you. Please reply to this post and I'll get back to you. Have a great day ahead.

sales130
Level 1

Under repair n maintenance, why does it place my service jobs as an expense?

I changed the account from expense to income, but when ran report, it still shows as a repair n maintenance expense 

MaryLandT
QuickBooks Team

Under repair n maintenance, why does it place my service jobs as an expense?

Let me provide additional steps to ensure the service job is categorize correctly on your reports, sales130.

 

When updating the account of the item, you also need to update past transactions.

 

If you're seeing the Also update this account in historical option when changing item, make sure to mark the box. This updates transactions that are using the same item.

update historical transactions.PNG update historical transactions1.PNG

 

If not, you need to open the transaction from the report. Then, perform these steps:

  1. Change the item and save the transaction.
  2. Go back and open again the transaction.
  3. Select again the original item and save it.
     

You can save this report for future use by memorizing it. Please browse this link to learn more about the process: Memorize reports in QuickBooks Online.

 

Stay in touch with me if there's anything else you need with your reports. I'll be around to help you.

sales130
Level 1

Under repair n maintenance, why does it place my service jobs as an expense?

How do I go and change history? Where’s that option? Also, I went into reports and changed one, but the charges changed to a credit for the customer. I didn’t change pricing, just the account where it was labeled

sales130
Level 1

Under repair n maintenance, why does it place my service jobs as an expense?

I’m sorry, I figured it out thx

sales130
Level 1

Under repair n maintenance, why does it place my service jobs as an expense?

Why do I have inventory shrinkage? Is it because of the product quantity?

ShiellaGraceA
QuickBooks Team

Under repair n maintenance, why does it place my service jobs as an expense?

Thanks for getting back to us, @sales130.

 

I'll share some information about inventory shrinkage. Inventory shrinkage is recorded when a product’s listed quantity-on-hand exceeds the actual physical count. The difference between this two is referred to as “shrink". The "Inventory Shrinkage" account is one of QuickBooks' pre-created accounts. This is automatically created once you adjust the quantity on hand.

 

Want more details about it? Check out these guides: 

 

 

In case you need help with other tasks in QBO, browse this link to go to our general topics with articles. Look for responses that fit your concern.

 

Reach out to me anytime if you still have follow-up questions about inventory. I'm always here for you. Take care and have a wonderful day ahead.

sales130
Level 1

Under repair n maintenance, why does it place my service jobs as an expense?

How can I run strictly sales and expense report without the other categories interfering? I just want a plain report of what came in and what went out 

Mark_R
QuickBooks Team

Under repair n maintenance, why does it place my service jobs as an expense?

I've got your back, @sales130.

 

You can run and customize the Transaction List by Customer report to see your sales and expenses transaction without other categories interfering. Here's how:

 

  1. Sign in to your QuickBooks Online (QBO) account.
  2. Click Reports from the left menu.
  3. Search for Transaction List by Customer report.
  4. From the Report period drop-down, select the date range of the report you want to show.
  5. In the Group by drop-down, select Transaction Type.
  6. Then, click Run report.
  7. Click the Customize button, then go to the Filter section and select Posting from the Transactions Type drop-down. 
  8. Click Run report.

 

I'm adding this article to learn more about customizing reports: Customize reports in QuickBooks Online.

 

You might also want to memorize this report. Here's an article you can read for more guidance: Memorize reports in QuickBooks Online.

 

Keep in touch if you need any more assistance running reports in QBO. I'll I'm always around if you need any help.

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