Month End

Question

My income statement revenues total is different from my month end report/ aged receivables by almost $6k. Is there something I am missing?

KimClement · Answer

The A/R Aging report should match the A/R account balance on the Balance Sheet, not the Income Statement. For Example, if you sold something for $300 but the customer only paid you $100, then your Income Statement would show $300.00. The Balance Sheet would show $200.00 (300-100) for the A/R Account and the A/R aging report would show $200.00.

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