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Uncategorized Income or Uncategorized Expense are Showing on the Profit & Loss Report

Two QuickBooks created accounts, Uncategorized Income and Uncategorized Expense are showing on the Profit & Loss report unexpectedly.
 
Transactions have been recorded to these accounts. This could result from the following:
  • It is possible that transactions have been enter directly to these accounts.
  • The QuickBooks data file was converted from a Quicken data file containing A/R transactions that were recorded without assigning category to them. Thus, uncategorized payment and invoice amounts appear in QuickBooks P&L reports as uncategorized expenses and uncategorized income, respectively.
  • Customer and Vendor opening balances were entered from the New Customer or the New Vendor windows. To facilitate cash basis accounting, QuickBooks records these new balances to Uncategorized Income or Uncategorized Expense.
  • This can happen if your preference to require accounts is not checked. If not, then Items do not need to have income accounts entered on the Edit Item window. Sales of this item are recorded to Uncategorized Income.
  • The Item used on transaction(s) has the "Parent" account selected as the "Income Account" (or Expense) instead of one of the sub-accounts. Quickbooks does not know which sub-account to assign to and will assign it to "Uncategorized Income" (or Expense).
Solution Description
KB ID# SLN42605
8/27/2016 10:03:54 AM
QYPPRDQBKSWS09 9132 Pro 2016 153268