QBO A/R on financials keep increasing the net income.
I use QBO. I need to list our invoiced A/R on financials, but it keep increasing the net income when listed as other assets or as A/R.
The only work around I could find is listing it as Equity – Healthcare receivables?
Any advice on a fix?
The way QuickBooks works is when you create an invoice it will do the accounting for you behind the scenes. For an invoice, the debit is to accounts receivable and the credit is to Income. This is the reason why your income continues to increase each time you create an invoice. I’m not quite clear on why this is an issue for you because this is how QBO should work. You can still run an Accounts Receivable Aging report to get to the amount that is outstanding from customers. I hope this helps but feel free to reach out if you want to provide me with some additional information.
All the Best-