If your income in QuickBooks never seems to land where it should, it’s easy to assume you entered something wrong.

That’s usually not it. 😲

The real issue almost always traces back to one place: how your Products and Services are set up behind the scenes.

 

 

Where to Find Products and Services in QuickBooks Online

Every product and service you sell, or every donation type if you’re a nonprofit, lives in one list inside QuickBooks.

It’s worth pulling up at least once a year, because most people set it up once and never look again

 

What the Income Account Field Actually Controls

There’s one field on every product and service that quietly decides where your money shows up on your reports.

Most business owners never touch it after QuickBooks fills in a default, and that default isn’t always right for their business.

 

Setting Up a New Product or Service the Right Way

Every new entry needs a type, a rate, and a few other details filled in correctly from the start.

Skip the wrong step here, and you’ll be fixing the same mistake on every invoice going forward.

I walk through each field in the video above.

 

How to Audit Your Existing Products and Services List

Going back through what’s already set up is different from building it from scratch, and it’s where most of the real problems hide.

I show you exactly what to click and what to look for in the video above.

 

Updating Past Transactions vs. Changing It Moving Forward

Fix a product or service, and QuickBooks will ask if you want the change applied retroactively.

That one checkbox can rewrite months of history, so it matters which way you answer it, and it’s not always the obvious choice.

 

Signs Your Income Is Set Up Wrong

A negative-looking income line on your profit and loss, or income quietly landing on an expense account, are both signs worth chasing down.

I show you exactly what that looks like on a real file in the video, so you know what to search for in yours.

 

 

Looking for another video in this series? Click the link below.
“Chart of Accounts: Why Yours May Be Wrong”

 

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Want to go even deeper?

If this got you thinking about how much of QuickBooks you’ve never actually customized, that’s exactly what we cover in our free Customizing QuickBooks workshop.

We’ll walk through your chart of accounts, the reports that actually matter, and how to walk into your next tax appointment with confidence. Save your seat here.

 

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What’s the biggest aha you had from this one? Did you find anything set up wrong?

Tell me in the comments. ⤵️

#CandusKampfer