One of my Bookkeeping Clients can no longer see Accounts Receivable on their Summary Tab. This is something they look at often. I am aware they can just open the Sales Invoices Tab and see what is still outstanding there but they like to see it on the main page. On my file it is still there. Can anyone help?
If they are using Sales Invoices tab, they should definitely see Accounts receivable section on their Summary tab.
You mention this issue doesn’t happen on your computer. How do we know it’s really happening? Have you seen it? Maybe there is some misunderstanding.
No I said it doesn’t happen on my file. I have opened their file on my computer with my program and it is happening.
I have the latest version and so do they.
Summary screen can show figures on Cash basis or Accrual basis. If Summary is set to show figures on cash-basis, you won’t see accounts receivable section on it. Click Set Period button to see on which basis are the figures on summary screen shown.
That did fix it. But I don’t see why it should make a difference which accounting type they set it too. Both accounting types would want to see that information on the Summary Screen.
Accrual accounting records and reports amounts earned and owed as the obligations are created. Hence, the Summary (and balance sheet) will show accounts receivable and accounts payable.
Cash accounting records amounts coming into or going out of the businesses as the financial transaction takes place, not as the underlying obligation to pay is created. Accounts receivable and payable do not enter the picture.
Accrual accounting gives a more complete representation of the company’s position, as it includes information beyond simple cash in and cash out. That is why accountants prefer it. If you want this information, use accrual accounting. But accrual accounting can be more complex, and simple businesses can sometimes be run on a cash basis. But there is no question that you are missing potentially important information when you do that.
Note that legal requirements often dictate which form can be used, depending on business size and organizational form.