FAQ: Invoices and Income Statement Categorization

Q1: Why are collections for invoices showing up on the income statement categorization?

Collections for invoices show up on the income statement categorization because the cash inflow (collection) is matched with the invoice, which should then be reflected as income when collected.

Q2: Should collections appear on the income statement?

Yes, as long as the cash inflow is correctly matched with the invoice, it should appear as income when collected.

Q3: What should I do if I notice discrepancies in the income statement?

Review the transactions to ensure they are correctly matched. If you find any issues, you may need to match the collections manually in Pocket.

Q4: What if I invoice through QBO and note the payment there?

If you invoice through QBO and note the payment there, you still need to match the collections in Pocket. Matching in Pocket will feed the invoice/payment match over to QBO, but not the other way around.

Q5: What should I do if the matching invoice is greyed out and cannot be selected in Pocket?

If the matching invoice is greyed out, you should add a message in Pocket for further assistance. You can also reach out to support, and they may create a ticket for additional help.

Q6: Who should I contact if I need further assistance?

You can tag a CPA or contact your support team for further assistance with matching issues or any other discrepancies.