I entered a credit card charge of $2700 back in July '08. The credit card bills are only paid in part each month. The $2700 is showing up on a P&L for this fiscal year. Why is that?
If your fiscal year is Jul-Jun, like most nonprofits, July 08 is part of your current fiscal year. If it’s not, you may need to change your report settings at Company -> Company Information. For instance, if your fiscal year is Jan-Dec you’ll need to change the month to Jan.
Get free QuickBooks support and training!
This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.
Written by +Ruth Perryman
Ruth is the an Intuit Premier Reseller that offers great deals on QuickBooks POS and QuickBooks Enterprise. She has provided expert QuickBooks help to thousands of businesses all over the world since 1996.
Visit our webstore for great deals on QuickBooks and QuickBooks POS!