“Clients may have unapplied vendor payments and credits. This occurs when a client creates a vendor credit, but does not know to apply the credit in the Pay Bills window. Another reason this happens is if you write a check and use Accounts Payable as the expense account.”

I need to figure out why you wouldn’t want to use Accounts Payable as the expense account when writing a check.

Also, some time need to ask Brian Bentley what the correct method is to enter in a check received from a customer if maybe you’ve forgotten to add it in until much after you actually received it. Say you’re in a new fiscal year and you have a check that should have been entered in for the previous fiscal year but never did. What do you do?

CASH BASED ACCOUNTING:

Payables => Expense Accounts
Receivables => Income Accounts

ACCRUAL BASED ACCOUNTING:

Payables => Liability Accounts
Receivables => Asset Accounts

Here I will categorize the scriptures I read as one of four categories:
1 – Religious
2 – Political
3 – Financial
4 – Moral

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