Please let me know:
As in Cash basis Balance sheet report A/Payable of Vendor bills do not show and when any journal made against the vendor bills then in cash basis report it shows negative A/c figure of the journal amount. How to resolve it. Suppose: There is a vendor bill for $100 which does not show as payable in the Cash basis Balance sheet report by shows in the accrual basis report. And a journal given for write off the bills for $ 100. ( A/c Payable debit $100 and Other Income Credit $100 )The vendor's open balance got Zero. But in the Cash basis Balance shows -$100 payable. But in accrual basis it shows Zero balance the balance sheet report . How to resolve it?
It would be great help for me if I got the answer ASAP please.
Thanks
