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Let me guide you on what to do when you see unapplied cash bill in your Profit and Loss report, corrine2.
This shows up when a bill payment for a vendor is recorded before entering the bills. Also, this also happens if you have entered bill payments without matching them to bills. To fix this, you can follow the steps below:
Once done, run your Profit and Loss report again. The Unapplied Cash Bill Payment Expense account should be removed from your report.
You'll also want to use the Profit and Loss Comparison Reports to compare your income and expenses for different time periods. You can compare your performance this week, month, or year to other timeframes. This shows you how your business is performing over time.
Let me know if there's anything else that you need help with with your unapplied cash bill payment expense. I'll be here to help you anytime.
I have a large balance on this account that is negative (i.e. a credit on the profit & loss). This method doesn't seem to apply in this case. I am having trouble working with this account!
Hello, MA93611.
I'd like to help you out with the unapplied cash bill payment expenses. However, I'll need more details regarding the issue.
Since the method above didn't work, how are those transactions recorded under the account? Also, I'd like to know the breakdown of those transactions. And lastly, can you give a screenshot on the report?
I'll be able to come up with a solution to help you remove the balance from the unapplied cash bill payment expenses account.
Looking forward to your reply.
I think I have figured it out. It appeared to have been stemming from our credit card entries being booked wrong. The result of creating an AP entry instead of just paying directly against the credit card account was a credit entry into this account. Thanks
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