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Re: Sirpeter post# 28833

Sunday, 12/23/2012 4:01:19 PM

Sunday, December 23, 2012 4:01:19 PM

Post# of 55250
I've never taken accounting courses but the way its been explained to me is that since there is a PO there has been money received (revenue) and money yet to be received but billed (receivable).....

If I'm incorrect that's ok because I'm stating that this is not my expertise wink and I encourage a correction.

This is the definition I'm working off of -

"Accounts receivable also known as Debtors, is money owed to a business by its clients ... It is one of a series of accounting transactions dealing with the billing of a customer for goods ..."

They could very well be billing for a customer we don't even know about yet as well smile

Go WTWO