Why does AR and AP still appear on my Cash Basis Balance Sheet?

Fri, 12 Feb 2010 21:09:00 GMT

When you Modify the QuickBooks Balance Sheet to Cash Basis it should not show AR and AP balances because these accounts track open invoices and unpaid bills. The Cash Basis Balance Sheet should include only closed, or paid, transactions. However, QuickBooks does include AR and AP on the CBBS. Explaining why, and what to do about it, follows:

AdvantEdgeBLOG - cashbasisreporting tag

Why does AR and AP still appear on my Cash Basis Balance Sheet?