Why are invoice totals different from income totals?

blackoak88 · ‎December 20, 2021

I'm experiencing about a $10k difference between my income (profit/loss) report in QBSE compared to my paid invoices. That is, the P/L is $10k lower than my paid invoices. Absolutely all of my income is recorded through the invoices that I send out, so that should be the accurate number. Why is it different between the two? (And no, I'm not talking about a difference between the P/L income minus expenses.

ChristineJoieR · ‎December 21, 2021

I’m glad to see you here in Community, @blackoak88.

Let me give you an insight into what's going on.

In QuickBooks Self-Employed, invoices are exclusively used to track expenses. They don’t reflect directly on your profit & loss, and tax reports. That’s the reason why your invoice has a different amount to your income totals.

What I can suggest is to carefully track invoice payments under the Transaction page. Utilize this article for your guide: Manually add transactions in QuickBooks Self-Employed.

On the other hand, you can also track sales tax in QBSE, however, they won’t be visible on the reports. The same way with an invoice, you have to track them to Transaction reports. See this link for your reference: Manually track sales tax in QuickBooks Self-Employed.

Don’t hesitate to drop your comment below. Have a wonderful day!

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