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I have seen so many people start then stop writing newsletters I am wondering what is the secret to keeping them going - any ideas?
Posted : 15/07/2007 11:39 am
Hello all:
Have a question:
My client had monthly revenue of $1,380.00. His bank statement only shows deposits totalling $950.00 for the same month. There were no deposits in transit. Does the excess of revenue over deposits ($430.00) get debited to Owners Draw? Because I don't know if all of it is A/R or something else. Anyway, the $430 is the amount that I am off balance in my closing JE.
Any ideas?
Thanks
Topic starter
Posted : 07/05/2009 4:12 am
Re: Have a question ?
don't have any idea about it buddy
Posted : 29/05/2009 4:36 am
Re: Have a question ?
hello....
You're going to need to find out where it goes. Could be A/R, could be a draw, could have been COGS not accounted for correctly, etc.
I'd start trying to tie sales to deposits and see if you can find the difference that way.
Good luck!
Posted : 29/05/2009 9:01 am
Re: Have a question ?
kim
I just sent you private message with my regular email so you can send the attachment.
Happy to take a look at it for you.
Thanks!
Posted : 20/06/2009 9:19 am
Re: Have a question ?
hello.
Why would you be trying to record revenue for the month from the bank statement? Should be recording it based on individual transactions, shouldn't you? A bank statement should not be relied on to reflect the revenue for a given period, ever. As I said, I would be using the actual transactions, A/R, A/P, checks, and deposits to record monthly transactions, not the bank statement.
Posted : 26/06/2009 3:29 am
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