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Profit & Loss Report not showing any income

I opened up the Profit & Loss Details chart (under Business) and observed there wasn't income recorded for months where income was deposited. This prompted me to question whether or not I had categorized those deposits/payments from customers correctly. When the customer's payment of their invoice is recorded in my register, Quicken shows in the category column - [Customer Invoices].

Rather than use the "Check #" column for that purpose, I find it more useful to record their Invoice #. Could this have been part of the problem?

Best Answer

  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    Accepted Answer
    Hello @donnien320

    Thank you for taking the time to visit the Community to report this issue, although I apologize that you have not received a response.

    When a bracket is used for the category like [Customer Invoices] this creates a linked transfer. A transfer is the movement of money and neither an income nor expense transaction.

    The "income" from these transactions will not be visible if they are a transfer and not specified as an income-based category.

    Are these amounts being transferred to a Customer Invoice account? Depending on what is occurring in the application, you may consider either editing the transactions or adding an adjustment for the amount.

    -Quicken Tyka
    ~~~***~~~

Answers

  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    Accepted Answer
    Hello @donnien320

    Thank you for taking the time to visit the Community to report this issue, although I apologize that you have not received a response.

    When a bracket is used for the category like [Customer Invoices] this creates a linked transfer. A transfer is the movement of money and neither an income nor expense transaction.

    The "income" from these transactions will not be visible if they are a transfer and not specified as an income-based category.

    Are these amounts being transferred to a Customer Invoice account? Depending on what is occurring in the application, you may consider either editing the transactions or adding an adjustment for the amount.

    -Quicken Tyka
    ~~~***~~~
  • baclark
    baclark Member
    Same question, I think. Using the Customer Invoices account, my customer payments are transfers (deposits) to my checking account, so they don't show as income. How can I edit the payment to show as income in the appropriate business category, but still show the deposit to my checking account?
  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    Hello @baclark

    Thank you for the response and the additional question. The transaction will need to use a business category instead of a transfer.

    You will create a transaction for the deposit in the checking that uses an income category to then reflect this category on the report.

    Are you encountering any issues when attempting to edit the category on the transaction?

    -Quicken Tyka
    ~~~***~~~
  • baclark
    baclark Member
    I think I understand for future payments, but I am not sure how to edit the previous deposits. When I edit the payment in Customer Invoices account, only transfers are showing. When I edit the deposit in the checking account, it removes the payment from the Customer Invoices account, leaving a balance due. The payment form Deposit To: field only allows transfers as well, and seems to be limited to bank accounts. Thanks for your time!
    Bruce
  • donnien320
    donnien320 Member
    select the "
  • donnien320
    donnien320 Member
    Wouldn't you think that Quicken would set up their program so that their is another selection to allow you to do both. Mine shows "Deposit to BUSINESSxxx, with my account number.

    As a consequence, I have many customers showing up in the "UNPAID INVOICES" when I open the 'BUSINESS" tab. Then after editing those by clicking on the invoice and when that original invoice opens up, I have to click on the payment selection. I feel like I am going around in circles, by not accomplishing anything.
  • donnien320
    donnien320 Member
    P&L follow-up: When I changed all my categories as "SALES" - (as income categories), that made all those transactions show up in UNPAID INVOICES! The only way I knew to correct all of them was to go back an go through the routine of using the "Pay Invoices" as though the customer had not paid before. That took the customer invoices out of Unpaid Invoices, but it also eliminates those transactions from INCOME, thus not showing on P&L statements.

    Not making any sense to me....what do I do?
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