Cash basis and balance sheet shows credit balance in accounts payable
Accounts payable showing up on cash basis balance sheet. How do I fix this? Any
easy ways to remedy this situation?
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arMVEOd3Gr36jyacfA8pyY
02/01/10 1:27pm PST
Viewed by asker 02/01/11 12:46pm PST
Viewed by asker 02/01/11 12:46pm PST
1 Reply
raywhite28
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02/01/10 3:18pm PST
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You would need to make a journal entry to correct this. THen reverse the journal entry next year. Run a Quick report on the A/P account. It will display the entries that make up the number.
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
