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EBFinancials
December 31, 2018

Balance Sheet: Accounts Payable

  • December 31, 2018
  • 1 reply
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When listing the accounts payable line item in the Balance Sheet - What if at the point when preparing the report I still don't know the amount of the outstanding invoices that my vendors will be issuing. It happens in my case as the invoices are based on the previous cycle performance/consumption and only few weeks into the following month the various vendors issue the invoice. During the waiting time I can not tell and/or estimate the final number.
What should I do in such scenario?

    1 reply

    john-pero
    john-pero
    January 3, 2019

    Until the point in time your vendor issues an invoice and you enter it as a bill you have no activity in accounts payable. That account is populated only when you enter bills. Do nothing until you have invoice in hand

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