@EmilyMockett wrote:
Hi QuickBooks Community,
What better way to keep track of this than QuickBooks Online?
Emily
Desktop! That's my final answer, lol.
Even an experienced accountant can sometimes run astray with profit. Our example, billed rent not yet paid inflates profit and even though accrual reporting is appropriate with outside investors, if you are looking to distribute quarterly profit to the investors you better hold back a reserve for uncollected rent or you will end up with a negative bank account. There is more to understanding profit than just the bottom line.
