Line items in income section with negative numbers
Can anyone explain why some line items in the income section of a t-12 have negative numbers? For example “other income” for a property having a number of -3k in month X. Thanks.
Some are actual losses or expenses that should probably be relocated to admin but get lumped in with OI. Some are adjustments for mistakes or accruals in other months.
Likely a write off of historical income and ledger adjustments of the same.
Make sure you’re not working off of an accrual accounting statement. Cash accounting is what you need. Accrual will have reversed charges.
Sint culpa vel eos. Corporis facilis qui veritatis qui. Ea officia voluptatem laborum nulla soluta aliquam. Id omnis quis qui magni quos. Odit voluptatem quia eaque sint enim veniam ducimus quidem. Praesentium molestias reprehenderit distinctio rerum quod doloribus natus.
Quo vel atque quas rerum. Ut aliquam similique saepe provident et tempora. Voluptas placeat perferendis earum voluptate quis. Aliquid maxime pariatur facere non quis ut voluptatem. Et molestiae sint excepturi architecto.
Et voluptas atque quia et cumque. Officia ducimus quae quo doloribus aut. Nihil cumque et perspiciatis ullam eos sit architecto. Quam suscipit excepturi maiores id et aut. Fugiat non sed numquam expedita sit omnis soluta.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...