Editing Book Keeping Task/QuickBooks/Bills paid by cheque
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The auditors for the 2014-2015 year noted: | The auditors for the 2014-2015 year noted: | ||
"Cheques are directly being expensed then the invoices that are being paid by these cheques are being entered in Accounts Payable and expensed again, causing double entry to the expenses. | "Cheques are directly being expensed then the invoices that are being paid by these cheques are being entered in Accounts Payable and expensed again, causing double entry to the expenses. | ||
- | Therefore expenses are being overstated. A decision must be made to either pay invoices by cheque or create Accounts Payable accounts, enter invoices through the Accounts Payable menu and follow through and pay | + | Therefore expenses are being overstated. A decision must be made to either pay invoices by cheque or create Accounts Payable accounts, enter invoices through the Accounts Payable menu and follow through and pay acconuts payable through this Accounts Payable menu." |