Is there anything wrong, with putting monies received from Customers under the Income heading and also under Customers acc, but not issuing an invoice or sales receipt?

Hi there, ccf2.

QuickBooks is only for recording purposes. With that, all money in and money out should be recorded in the right way. This way, your accounts and transactions will remain accurate or balance. 

Here are a few steps to narrow down the cause of this issue. Login to your QBO account using an incognito or private browser. Since this doesn't store data in the cache, it the best place to isolate browser issues. Kindly use either of the following shortcut keys:

• Google Chrome, press CTRL  + Shift + N
• Mozilla Firefox: press CTRL  + Shift + P
• Internet Explorer: press CTRL  + Shift + P
• Safari: press Command + Shift + N 

For more tips, while handling your other customer entries in the future, you may consider checking out the resources from this link: Manage Customers and income for QBO International.

If you have any other questions about QuickBooks, let me know by adding a comment below. I'm more than happy to help. Keep safe!

Thank you for the reply, but unfortunately this doesn't really answer my question.

To explain it a bit better, we have members who pay their membership subscription weekly.

I enter these bank transactions under the Income heading "Membership Subscriptions" and also allocate each payment to the Customers' account in QuickBooks.

I don't create an Invoice or a Sales Receipt in Quickbooks.

I know the Profit and Loss is correct as it shows all this Membership Income.

But what I am not sure about is will the Balance Sheet or the Customers' account in QuickBooks be affected by me not creating an Invoice or a Sales Receipt?

All these income payments being allocated against Customer accounts in QuickBooks, but no Invoice or Sales Receipts to match the income?

Hi there, ccf2.

Can you tell us how did you record the transactions? Was it through the Online Banking section or by creating a journal entry? We just want to make sure that we give you the right steps and information to address your questions.

Please add a reply below to share more details. We look forward to it. Thanks!

Through the Banking section. The Income transactions are downloaded from the linked bank accounts. I post them to the relevant Income code in the P&L. They then appear in the Bank acc and also the P&L. But I also allocate them to the Customers acc in Quickbooks.

Hi there, ccf2.

Allow me to chime in and provide some information on how reporting works in QuickBooks Online (QBO).

Balance Sheet Report is a statement of assets, liability, and equity accounts of a business. Since you only code as income in the transactions under Banking, this will show to Profit and Loss report.

You need to create an Invoice and Sales Receipt if it's connected to downloaded transactions and match it in QuickBooks.

To manage your bank transactions, you can refer to this article: Categorize and match online bank transactions in QuickBooks Online.   

Visit me here again in the Community and keep me posted on your progress with this banking concern. I'm determined to help you succeed.

What I am trying to figure out is, if I do not create an Invoice or Sales Receipt after the Income has come in, does it matter?

If someone pays their membership weekly, I don't want to have to create 52 Invoices or 52 Sales Receipts during the full year for each member.

Can I get away with just recording it as Income in the P&L and also allocate the payment to the Customers account?

Is that acceptable, or are the Customers accounts going to look wrong showing the weekly lodgements but not showing any Invoice or Sales Receipt?

Allow me to help you with this, ccf2.

You'll want to record a total daily sale instead of creating lots of invoices and sales receipts. This will save you more time. I'll show you how to do it below:

Let's begin by creating a customer for daily sales. You'll only use this customer account on your "end of day" sales receipt.

1. From the left menu, select Sales, then Customers.
2. Select New customer.
3. Enter "Daily Sales."
4. Select Save.

Then, set up accounts for daily sales. Make sure your Daily Sales accounts are set upright. This makes your income reporting accurate.

To set up daily sales accounts:

1. Select the Gear icon on the Toolbar.
2. Under Your Company, choose Chart of Accounts.
3. Select New at the top right.
4. Set up these accounts:

More about the process of recording total sales can be found in this article: Record your total daily sales in QuickBooks Online.

I'd still suggest consulting an accounting professional for proper handling of this situation and to make sure everything is accurate.

You might also want to visit our QuickBooks Online learning guides for tutorials and webinars about the product.

Get back to me if you need help with something else. I'd be happy to assist. Enjoy the rest of the day.