Unapplied cash payment income may appear when you produce a Profit and Loss report using the cash method. QuickBooks creates this account to ensure accurate tax reporting.
If a... moreUnapplied cash payment income may appear when you produce a Profit and Loss report using the cash method. QuickBooks creates this account to ensure accurate tax reporting.
If a customer prepaid you and you recorded the payment before creating the sales form, QuickBooks Unapplied Cash Payment Income may display on your report (invoice or sales receipt).
Payments were entered without being matched to sales forms.
The steps below will assist you in resolving QuickBooks Unapplied Cash Payment Income on your Profit and Loss statement.
1step: Execute the Open Invoices report.
To run the open invoices report, do the following:
Navigate to Reports.
Enter Open Invoices in the Find report by name field.
Set the report period, then click the Run report button.
Locate a Payment transaction in the Transaction Type column.
If the Payment transaction matches to an open invoice, go to Step 2. If you don't see a corresponding open invoice, skip to Step 3.
Step 2: Check to see if the Payment transaction... less