A/R
I have applied two payments for customers, the A/R is correct on my Balance Sheet but not right on my P/L Stamtement. Why is this?
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ck-T2Aj3ur4yUOacwZ5xHE
12/15/11 3:35pm PST
Viewed by asker 01/19/12 2:31pm PST
Viewed by asker 01/19/12 2:31pm PST
4 Replies
Rustler
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12/15/11 3:37pm PST
The solution
Not sure what you are referring to, a/r is not on the P&L at all
If I've helped, mark it solved.
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12/15/11 3:44pm PST
Ok, then I really have a problem, my last month stmt showed my A/R on my P/L as Job income?
12/16/11 3:56am PST
I just played with my P&L and nothing I do can make a/r appear there, I'm going to ping a cpa to take a look at this thread, hopefully she can help and we'll both learn something
hang tight
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12/16/11 5:16am PST
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I think there may be some misunderstanding about terminology here. Please describe the name of the account that showed income on your P & L.
Also please provide the steps you take to record income. ie - record an invoice - increases income on the p & l and increases a/r on the balance sheet (accrual basis). Receive the payment from client - increases bank or undeposited funds, decreases a/r.
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