Sales / Accounts Receivable
Jul 26, 2021It is very important that you report your sales to us by the 5th of each month on a standard reporting form. See Appendix A-6 for a sample Sales Report. Reconciling differences between sales and bank deposits may be posted to a Suspense Account on the Balance Sheet until they can be resolved. Please review this account monthly. If you have sales on account and are an accrual basis taxpayer, you must provide us with an accurate accounts receivable balance at the end of each month.
If you use QuickBooks or other software, you must track accounts receivable within the customer section of your software so it can be properly accounted for.
If you want to improve your business situation, get assistance now. Schedule your free consultation today or give us a call at (218) 491-4002. We're here to help!
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