Accounts Receivable and Payables Balance Sheet discrepancy

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  • Updated 5 years ago
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When I look at my Chart of Account list I can see my Accounts Receivable and Accounts Payable balances BUT in my Company Balance sheet those figures do not carry over. I have an odd NEGATIVE figure in Accounts Receivable and Accounts Payable (Trade Creditors) doesn't appear at all? Any suggestions? I have 2 company accounts and they both do the same thing...
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Femie Manderhuon

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Posted 6 years ago

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Graham Meredith, Accredited Partner

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Hi Femie

It sounds like you have been writing journal entries to the general ledger account for these two accounts which would indicate why the two accounts do not agree to your balance sheet.

Create a Balance Sheet report, then double click on your Accounts Receivable Balance. Click on Modify in the top left and once there, click on Filters. Find the item in the box called Transaction Type and click on Journal from this group.

Than click OK and change the date range item to "All"

That will show you all of the journal entries that have been made which should be the difference between your Accounts receivable ledger and your balance sheet amount.

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