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Level 3

Why does the balance sheet report show cash above debtors?

Every balance sheet format in the world sets out current assets in this order:
- stock
- debtors
- cash
This is also the requirement under UK accounting standards FRS102 or IAS1, currently in force in the UK (for Ltd companies).

Why does the QBO balance sheet report show cash first, then debtors, then the rest in a grouping called 'current assets' (when in fact cash and debtors are also types of current asset!)
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Best answer January 28, 2020

Accepted Solutions
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Moderator

Why does the balance sheet report show cash above debtors?

Hello, rjwbailey.

 

QuickBooks Online reports are categorised alphabetically, the reason why cash is on top of debtors in the Balance Sheet report. As a workaround, you can export the report into Excel and re-order the accounts from there.

 

 

Debtors are the people who owe you money, which means you're still waiting for their payments. While Cash is money that you already have.

 

To get more information about QuickBooks Online's balance sheet report, check this out:

 

Feel free to leave a reply below if you need more help with the balance sheet or anything about QuickBooks reports. I'm always here to help. Have a good one.

View solution in original post

2 REPLIES 2
Highlighted
Moderator

Why does the balance sheet report show cash above debtors?

Hello, rjwbailey.

 

QuickBooks Online reports are categorised alphabetically, the reason why cash is on top of debtors in the Balance Sheet report. As a workaround, you can export the report into Excel and re-order the accounts from there.

 

 

Debtors are the people who owe you money, which means you're still waiting for their payments. While Cash is money that you already have.

 

To get more information about QuickBooks Online's balance sheet report, check this out:

 

Feel free to leave a reply below if you need more help with the balance sheet or anything about QuickBooks reports. I'm always here to help. Have a good one.

View solution in original post

Highlighted
Level 3

Why does the balance sheet report show cash above debtors?

If it's alphabetical, how come 'debtors' comes before 'current assets'?

 

Anyway, as any accountancy student will tell you, current assets on the balance sheet are always ordered from least liquid to most liquid, i.e.

- stocks

- debtors

- cash

 Please change this report to comply with accounting standards!