Schedule C and Invoices
I have several invoices that are showing up incorrectly on the Schedule C report. On the first one, the total is wrong, but the other totals are correct. The line item amounts do not match the line item amounts on the invoice.
For example, the line items on the invoice are for $70.00, $130.00, $200.00, $2,970.00, and $60.00. But the schedule C report says $63.06, $624.26, 117.32, $2,234.17, and $391.19, and 64.21. This happens on the first four invoices for the year and then it is fine. Not sure of the problem.
Answers
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On each of the erroneous invoices, are EACH of the categories for the line items assigned to a Sched C tax line?
That, and not existence on the invoice, are what determine what goes onto the Sched C report.
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Each of the line items has the same category.
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To clarify, each item is the same service (categorized as business income). They are just listed separately because they are being charged to different projects.
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I resolved this problem. After closely reviewing past invoices, I realized that the wrong payment was applied to the invoices. To make it more difficult to track, the payments were from a different year. So all of the payments were there, but they were not applied to the appropriate invoices. Thanks for your help.
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