Cash basis balance sheet shows Accounts Receivable


B

BC

Any ideas on how to remove or workaround the fact that QB includes AR
on its balance sheet--even when it is set for cash basis?

We're trying to finalize taxes and would appreaciate any ideas /
suggestions or explanations as to why QB does this.

Thanks
 
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A

Allan Martin

BC said:
Any ideas on how to remove or workaround the fact that QB includes AR
on its balance sheet--even when it is set for cash basis?

We're trying to finalize taxes and would appreaciate any ideas /
suggestions or explanations as to why QB does this.

Any transaction (and correctly so) that effects Accounts Receivable or
Accounts Payable that also effects another balance sheet account will always
show up in both cash basis and accrual basis reports.
 
M

Mike Block, C.P.A.

BC said:
Any ideas on how to remove or workaround the fact that QB includes AR
on its balance sheet--even when it is set for cash basis?

We're trying to finalize taxes and would appreaciate any ideas /
suggestions or explanations as to why QB does this.

Thanks

Go to the Edit menu and then select Preference. Now select Reports and
Graph icon on the left. Click on the Company Preference tab. In the
Summary Report Basis, select Cash. Click Ok to complete. If your
Balance Sheet still shows AR balance, then click on Modify Report in
the Balance Sheet and in the Display tab click on Cash in the Report
Basis area. This will display the Balance Sheet on Cash Basis.

Mike Block, C.P.A.
Intuit paid me to make QuickBooks better!
http://www.blocktax.com/
http://www.quickbooks-add-ons.com/
 
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J

John

It'll include AR only if it has to. It has to in several cases, like you
have payments from customers that are unapplied, or transfers from AR to
another balance sheet account that is cash basis. To find out what it is,
change the date on the report back in time until it goes away, then focus on
transaction on the date where the problem balance shows up.
 

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