P&L and Balance Sheet do not match transactions

1

I have entered a years electricity bills as separate line items under a single purchase order for 30/6/23. These come to $479.12.

I have entered the years rebates the same way as Debit Notes coming to $245.25.

The P&L electricity for the years should be $233.87.

The P&L says $1183.67.

I made total payments of $1302 meaning that Accounts payable should be minus $1068.13. This is confirmed in the Purchase Order Summary.

The Balance Sheet shows Accounts Payable at zero (minus $0.01).

Can anyone suggest where I goofed up please.

Payments
Payments1272×666 75.3 KB

Purchase Invoice Summary
Purchase Invoice Summary1244×285 37 KB

Balance Sheet
Balance Sheet654×632 46 KB

P&L
P&L672×642 35.4 KB

Purchase Invoices
Purchase Invoices1242×685 45.8 KB

2

First of all, you did not use Purchase Orders but Purchase Invoices

These are two completely different transactions

Secondly, when you prepare your reports on a Cash Basis, only Payment and Receipt transactions are taken into account

The report is correct as it shows that you paid 1183. If you click on this, you will see the payments

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3

Thanks @Joe91, I used Purchase Invoices because these are bills straight from the supplier. Normally you would raise a Purchase Order and then satisfy that order with a Purchase Invoice when the goods arrived. In this case there is not need for a Purchase Order. I’ll look at this further.

Re: Cash Basis; are you saying that it ignores the Accounts Payable ???

4

You need to brush up your accounting knowledge

https://www2.manager.io/guides/7129

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