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A/P on Balance sheet vs A/P General Ledger

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  • A/P on Balance sheet vs A/P General Ledger

    Why would the figure on my Balance Sheet for Accounts Payable not agree with the General Ledger Accounts Payable amount or the unpaid bills amount.

  • #2
    Make sure the reports use the same basis (cash or accrual)
    Joe Williams
    joewilliams@wavelinx.net
    Piedmont, Ok

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    • #3
      One reason is that QB keeps vendor credits in the A/P account rather than as an asset account as it should. That lowers the balance on the balance sheet as compared to the unpaid bills report which is just open bills

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      • #4
        Joe Williams, Thank you for your suggestion..that fixed the problem for me! I thought if I had my company set up on accrual basis, that all aspects would be that same basis, but looked on the Balance Sheet Report and it was set on cash basis! Thanks
        Linda

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