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Sch C - missing transactions

mfaulken

I'm using Q Home and Business for Windows. My schedule C is not picking up invoice payments that I deposit to a savings account. I have all accounts/categories and payees selected and can't figure out why the report is excluding these payments.

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Frankx

HI @mfaulken

You need to look at one or more of the transactions that are not appearing on the tax report - and specifically at the category that those transactions have been posted to. Then double check the categories themselves by looking at the Category List to make sure they have a "Tax line Item" assigned.

Let me know how that goes or if you have any followups.

Frankx

mfaulken

Thank you Frankx - The issue is that posted invoice payments to my savings account are not in the Schedule C. However, all of the posted invoice payments to my checking account are in the report. The only difference in the posting transaction is the account to which the payment is posted.

Frankx

Okay - can you tell me the name of the "report" that you are looking at? Also, is there anything special about that savings account, and can you see activity posted to that account showing up in other reports?

Frankx

mfaulken

The Schedule C report is not picking up any of the invoices posted to the savings account. I've checked the details for both the checking and savings accounts that are used and there is no difference. All of the invoices posted to checking show up in the Gross Receipts or Sales section, but none of the invoices which are posted to the savings account are there.

Frankx

Hi again @mfaulken

Please go to the savings account register and for one of the "posted invoice payments" that are not showing up in the Schedule C tax report, please let me know what the "Category'" is.

Thanks,

Frankx

mfaulken

Hi Frankx - it is categorized as a transfer from the Customer Invoice account, which is exactly how the invoices are posted to the checking account. I receive invoice payments using 'Receive customer payments' in the Business tab and in the form I choose which account to post it to. Some go to the checking, some go to the savings account. The invoices payments are all from the same customer.

Greg_the_Geek

Do you deposit payments individually or make one deposit with multiple payments? If it's the latter, I would suggest using an intermediate cash account (such as Undeposited Business Checks) for the payments and then a transfer to the actual account when the deposit is made.

mfaulken

It's one deposit per invoice, with the total posted into either account. I realize I can always show the deposit into the checking account and then transfer it to the savings, but to make the schedule C correct for last year, I would have to do that for each payment posted to savings.