Uncategorized income frustration
AKP
Member Posts: 2
After running a P&L report to hand to my accountant, I noticed that I had a Uncategorized Income that was inflating my overall income. I clicked on it to see what was going on and found that all the transactions it thought was income were actually payments I made to my credit card.
First question .... Why would payments appear as income?
After reading the community posts, I noticed a thread on how to alleviate the situation, but when I do that, I am now always seeing an "Error Saving" message, or sometimes a message that reads, "There must be exactly two line items with a transfer clearing account."
See attached screenshots.
This has never happened before. It's frustrating me. Help?
0
Comments
@AKP,
Instead of categorizing to the credit card try this. First be sure your transaction journal has the credit from cash (shown in black) from the checking account-set to uncategorized. Right near it should a Payment - Thank You (or something to that effect) from the credit account. It would be in green. Set to uncategorized.
From there it does not matter which one you select - Categorize to Transfer to Bank/Credit Card. It should find the matching amount and tag the other one with Transfer.
I sometimes see clients create a transfer or categorize the payment which leaves the payment as uncategorized income. The importing of transactions is purely mechanical, payments of the credit card are viewed as deposits and charges as withdrawals.