Expense not showing up on P&L

Lanaj36

Have 2 different business accounts. Acct 1 received a electronic Income deposit intended for Acct 2. Recorded income on Acct 1. On Acct 1 transferred $ to Acct 2 recording as a expense. The P & L on Acct 1 does not show the expense item . The category for the expense item is listed . Why not showing on P&L for Acct 1?

Jim_Harman

OK, if you want to show what actually happened:
-- Deposit to wrong account
-- Withdraw from wrong account using negative amount and same category as deposit
-- Deposit to correct account

Using the withdraw and deposit allows you to assign categories.

volvogirl

A transfer is neither income or expense.  A transfer does not have a Category.  The other account is the category.  See if you can customize your report to include Transfers.

Jim_Harman

Or delete the transfer and enter the deposit in the account where it should have gone.

volvogirl

That probably won't work or be right if they actually received the deposit in the wrong account.  Was it really deposited into the wrong account at the bank or just in Quicken?

Lanaj36

Deposited in wrong account

Jim_Harman

OK, if you want to show what actually happened:
-- Deposit to wrong account
-- Withdraw from wrong account using negative amount and same category as deposit
-- Deposit to correct account

Using the withdraw and deposit allows you to assign categories.