How to Run a Profit and Loss Report in QuickBooks Online
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📌 QuickBooks Tip: Avoid Double Income Mistakes! 💰🚨 If you’re not matching bank feed deposits to invoice payments, you might be overstating your income! Here’s how it happens: ✅ You create an invoice (income recorded). ✅ You receive payment into Undeposited Funds (reduces A/R). ✅ You deposit the payment in your bank (moves funds correctly). 🚨 The Mistake? When the bank feed imports the deposit, instead of matching it to the received payment, you accidentally categorize it as new income. ⚡ Res
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