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If that is all it takes, I'm fine with that. 1. Billable Expenses: A 2023 Guide from Your QuickBooks Trainer Using Cash Basis Reports in QuickBooks | QBExpress For more information, please see our A negative expense is income, in that account, exchange gain or loss, a negative means you made money on the exchange rate. Sometimes I pay a vendor with an account that is not linked to Quick-books and that has to be accounted for with a General Journal Entry. If you pay a bill, that only affects Accounts Payable and your bank account. I understand that Paypal and Shopify are different, but some people are paying through Shopify with Paypal accounts, so does that mean that even if they are using my shopify online store to pay with Paypal the sales are always going to count as Paypal sales? Debits and credits affect different types of accounts differently. How to Do Job Costing in QuickBooks When You Outsource Payroll If they are expenses they should be negative no? How Do the Owner's Distributions Show in a Profit or Loss? The sales items typically link to income, which would be a Credit. Solved: Information not Showing up in P & L/ Balance Sheet - QB Community Why do the profit and loss numbers not match the expenses section for the same time period? Why Doesn't My QuickBooks Income Match the Income on my Tax Return? The invoices are "Paid". Sales Tax. On the Customize report window, set Accounting Method to how you want the income/expense reported. By clicking "Continue", you will leave the community and be taken to that site instead. Here is the link from the previous post. Profit and loss account - Oxford Reference