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Balance sheet A/R

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  • Balance sheet A/R

    The total on the A/R on the balance sheet differs from the total on the Open Invoices report, and I cannot find where the problem is. Any clues on how to track this down?

  • #2
    Intuit broke the accounting rules, customer credits are held in the customer A/R account lowering the total balance due. As a result the invoice total will be higher


    • #3
      We do not have any customers with credits. Also, for payables we owe over $80.000.00 (gulp - rent to ourselves in addition to regular bills). The report shows only one vendor for $295.00, and the rest is shown as a lump sum in a gray bar at the top of the report. And that doesn't even balance with the BS. I am using 4/30/20 in the from/to boxes, as that is the ending date of our fiscal year.

      BS does not equate to balance sheet in my mind.

      Any help will be welcome - Thanks


      • #4
        Vendor? Vendors are associated with A/P, your question was about A/R

        run a customer balance report with the date range set to ALL


        • #5
          Thank you so much - ran the customer balance summary report as you said and it agreed with the BS.
          They have so many ways to run a report you really have to know which magic button to push - and after following you for many years I am certain that you know all the answers!

          Thanks again, and stay well


          • #6
            Open the Balance Sheet by Year report that you memorized in Step 1:
            From the Reports menu, select Memorized Reports, then choose Balance Sheet by Year.
            Double click the A/R total for the year when the discrepancy started to bring up the Transactions by Account report.
            Change the Total by to Customer.