QB Issue Resolution:
First of all, let’s understand the difference between Expense and Bill in QBO.
Expense transaction means you’ve already paid by bank card/ATM or Credit Card. This is Cash transaction so when you run the P&L report, you will see it as an expense item.
Bill transaction means you’re entering expense for something you have not paid yet and pay later. It means you’re creating Accounts Payable (A/R) or liability. This is not a Cash transaction yet so it will not show up on the P&L if you’re running a Cash basis method report. It will show as an expense item when you run the Accrual basis method report. Once you Pay this bill then it will show up on the P&L report.
So, Run the Profit and Loss report and change to ACCRUAL basic method, you will see the entered Bill as an expense item.
Hope this helps!
Resolution for Issue 'Subcontractor payments aren’t showing up in P/L unless they’re recorded as expense & not bills. expense increases their balance for some reason. Any help plz? thanks.' available: Yes (Solved).
Source: Intuit Community forum.
Subcontractor payments aren’t showing up in P/L unless they’re recorded as expense & not bills. expense increases their balance for some reason. Any help plz? thanks.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Expense and Bill
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