Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Thank you for reaching out to us here on the Community page, @userthuo-rose.
I can think of two reasons why this happens to your transaction. First, there may be duplicate sales receipt recorded on your account. Second, a downloaded banking transaction that is added on the register. To fix the error, check for any duplicate record identical to that sales receipt. If there's any, remove them from your record.
If you've added a transaction that's automatically uploaded on the Banking page, undo the process, then match it to the manually added one.
For additional references about matching transactions in QBO, check out this article.
The topics from our help articles also contain resources you can read more when managing QuickBooks or your transactions in the future.
Let me know if you have any other questions. I'm always here to help. Have a great day!
Thank you for responding to me.
I have taken a look at the transaction; I had not inputted any bank transaction so the banking solution does not work for me. The problem persists; I have now noticed that after imputing the sales receipt in question, the Income amount on the QBO dashboard is correct but the Cost of Sales amount is way more than it should be. Do you know where I should look to rectify whatever is causing the wrong Cost of Sales amount on the dashboard?
I appreciate you for providing additional details above about the Cost of Sales amount in your QuickBooks Online (QBO) dashboard, @userthuo-rose. This way, I can guide you where you should look to rectify the cause of the issue and make sure your account is accurate.
Based on your description of the issue above, it seems that you're using the incorrect account in tracking the cost of your product/service. You can rectify this by checking the income and expense accounts used for the product/service you've entered in your sales receipt. This way, you'll be able to record your transaction using the right accounts and correct the Cost of Sales amount in your dashboard. Here's how:
I've attached screenshots below for your reference.
You can pull up the Sales by Product/Service Detail report. This way, you'll be able to monitor your sales for each product/service and make sure they're recorded accordingly. Then, you can customise it to focus on the details that matter the most. Just go to the Sales and customers section from the Report menu's Standard tab.
I'm also adding this article to learn more about the QBO dashboard: An introduction to the home dashboard. It also contains details about searching transactions and managing user access to name a few.
Please let me know if you have other concerns. I'm just around to help. Take care always.
Update! I have figured out what the problem was! The problem was that two of the products on the sales receipt had the wrong units of measurement and so I edited that out and everything checked out ok. Thank you for helping me.
How do you delete the cost of sales in the profit and loss as it has been double counted. I have deleted all the COG values in the stock (now zero), however now I am left with a COS value as well as the actual COS within the profit and loss. I want to delete this historic recording of cost of sales.
Allow me to help you with this, hanzaglobal.
You can manually delete the remaining values that are showing on your COS value and actual COS account. To do that, open your Profit and Loss report and click the accounts mentioned. Then, delete the transactions from there.
Here's how:
I have the following articles about managing a wide range of reports in QBO:
You might also be interested in knowing more about the Impacts of inventory tracking on balance sheet and profit & loss reports.
Get back to me if you need help with something else. I'd be happy to assist. Enjoy the rest of the day!
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.