Steps To Resolve QuickBooks Unapplied Cash Payment Income
Step 1: Run the Open Invoices report.
Check out the instructions for running the open invoices report below:
To begin, go to Reports, then to the Find report by name field, and then to Open Invoices.
You must now select the report period and then click Run report.
Later, go to the Transaction Type column and add a Payment transaction.
Proceed to step 2 if the payment transaction corresponds to an open invoice. Go straight to step 3 if you don't see an open invoice matching.
Step 2: Check to see if the Payment transaction corresponds to an open invoice.
If your payment is for an open invoice, follow these procedures.
To open, click on the Payment Date.
Go to the Outstanding Transactions section and look for the open invoice.
Close the window after clicking Save.
Step 3: If the Payment transaction does not correspond to an open invoice
If your payment does not match an open invoice, you must create the transaction. Follow these steps:
Click on the Add New button, then look for Customers and click on it. Finally, click on Invoice.
You must now complete the form using the same customer, amount, and date as the payment.
After that, click Save and Close.
Return to the Open Invoices report immediately.
Find the unapplied payment and then click on the date to access it.
Under Outstanding Transactions, look for the open invoice.
Save and close the window.
Check your Open Invoices report to see if there are any more Payment transactions. If there are more than one, repeat step 2 for each one.
Check your open invoice report for any other transactions that have been marked as payment. If there are any, repeat step 2 for each transaction.
You are now ready to depart, or you can review your Profit and Loss report. I hope you won't notice any more unapplied cash payment income.