Hi have been reviewing last yrs figures, in my P&L , General Sales 4000 there are several unpaid invoices - I rather assumed sales would mean those that had been paid? or is this a techy accountants term that I don’t understand!!?
thank you
Hi have been reviewing last yrs figures, in my P&L , General Sales 4000 there are several unpaid invoices - I rather assumed sales would mean those that had been paid? or is this a techy accountants term that I don’t understand!!?
thank you
The P&L report is referred to as an accrual report. So it actually calculates the figures based on the invoiced amounts, not the payments received.
Ah right that makes sense!! thanks very much