Unapplied cash payment income in QBO

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#1
Andrew  
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806
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21-Nov-2018 5:00pm
Location:
CA
Client has negative $50K in this account on cash basis P&L for prior year. Unapplied cash payment income account reduces the annual income by 50K. I don't understand the programming behind it. Is this to offset an invoice which QBO uses to calculate income (even on the cash basis)? And then, if the invoice doesn't get paid in the report period, it reduces the income by the outstanding open invoices? So it basically deducts the open invoices on a Profit and Loss report run on the cash basis? Thanks.
 

#2
johnmh3  
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24
Joined:
9-Oct-2014 5:03pm
Location:
Ohio
Usually an amount categorized as Unapplied Cash Payment Income represents a payment received before the invoice date.
 


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