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.
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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.
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