inventory costs show in accounts receivable?
Cash basis balance sheet has an amount in accounts receivable. the amounts are from inventory parts being sold on invoices. the invoices have been paid. Need help to fix.
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DeeAnn
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06/22/10 3:43pm PDT
Viewed by asker 07/12/10 2:37pm PDT
Viewed by asker 07/12/10 2:37pm PDT
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raywhite28
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06/22/10 4:16pm PDT
You need to write a journal entry to correct it. That's the way QuickBooks works. If you run the reports on the accrual method, it works correctly.
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
DeeAnn
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Thanks Ray for the input! I thought of that but won't that throw A/R off. The invoices that are showing up have been paid, they shouldn't be showing up, correct? Does it have something to do with the inventory item?
