Hello: I’m using QB Pro 2006 on one job I pulled a draw entered it in an invoice as services billed. When the job was completed I billed the whole house then said “less draw of $XXXX.XX payed on x date so the total reflected the draw. Now when I run a P&L report the total is coming up with the draw twice.
Any ideas what I did wrong or need to fix in my invoices to have the net come out correct?
Thanks Jeff
Replies
Not sure I follow exactly, but it sounds like you need to delete the draw from the second invoice.
Edit: Then use a statement (rather than invoice) to show the client's net balance.
Edited 3/31/2009 5:39 pm ET by Righty_Tighty
I assume you have generated two invoices for the job, one for a draw and one for final payment.
Second one should look like:
Total project cost: $10,000.00
Draw received: -$5,000.00
Balance due: $5,000.00
You need to enter the draw amount as a negative number on the second invoice, and use a 'balance due' as the bottom line.