how do I categorize something as revenue

I'm using quickbooks contractor edition and when I generate profit and loss reports I'm not showing any revenue (even though I've collected checks and entered them).

Any input is appreciated.

Also, is the training video worth the $40.00? Is there a decent book that could help?

Thanks.

Reply to
me
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Based on your post I would say the video would be worth while even though I have no idea what video you are taking about.

Prior to collecting checks did you record any invoices?

Reply to
Haskel LaPort

Yes. I recorded invoices before recording payments.

However, when I generate a profit and loss report, the only things that are shown are expenses (no income, deposits or revenue).

Thanks.

Reply to
me

And the item(s) on this invoice, what income accounts were they pointed to?

Gary

Reply to
Gary E

Not sure. I think I'm pointing it to my checking account.

What should it be pointing to (and where is the field to point it).

Thanks.

Reply to
me

It should be pointing to an income account in your chart of accounts NOT your checking account. And the item can be found in the item list.

I really feel you should find, as soon as possible, a class on QuickBooks, or purchase a few hours of a knowledgeable QuickBooks consultant. The questions you are asking are a little too basic and I'm afraid you could end up with accounting data that means absolutely nothing, and on top of that, may be just a tad difficult to reconcile your bank accounts.

Good luck

Gary

Reply to
Gary E

Gary, thanks for the input.

I'm probably going to go and get the tutorial DVD at bestbuy along with the 'for dummies' book.

I've got a girl in my office who handles our quickbooks (and has for years) but I'm trying to teach myself just because I like to know all the aspects of my business.

Can you tell me this: on the invoice or the receive payments option, should I have it point to Revenue or something similar (like accounts payable)?

Thanks.

Reply to
me

Watch the DVD and read the book. You need a basic conceptual construct of how accounting and accounting programs operate.

Reply to
Haskel LaPort

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