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Why is there still a discrepancy in my report when I run it as cash and accrual if all income and expenses have been entered and all bills have been paid and there is no a/r or a/p?
Nevermind, I figured it out. Thanks! Some of the bills were paid outside of the quarterly report date.
Date Differences cause cause this. A bill paid in advance of the bill date, for instance.
Making Bills to pay down debt balances or making Bills to pay against the CC account can cause this.
You didn't state where this discrepancy is. Income? Expense? An account that is typically split on checks, such as Loan + Interest? Payroll?
It was in the expenses. Some bills were paid outside of the quarterly report date I was running. Thank you for answering so quickly.