Discussions
Stay up-to-date with the latest news from NetSuite. You’ll be in the know about how to connect with peers and take your business to new heights at our virtual, in-person, on demand events, and much more.
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
Stay in the Know
Be sure you're subscribed to NetSuite communication to stay in the know about monthly happenings, updates and announcements. Subscribe
Be sure you're subscribed to NetSuite communication to stay in the know about monthly happenings, updates and announcements. Subscribe
Inventory Received Not Billed as a Liability? - HELP!
I met with my accountant yesterday and she see's this account called "Inventory Received Not Billed" under my "Other Current Liabilities" on my Balance Sheet. We think we understand what the account does as we read the "Accounting for Received Purchase Orders" help guide.
It is showing as $57,0000 under "Other Current Liability" on my Balance Sheet. Also on my Balance Sheet under "Current Liabilities" is $22,000 in Accounts Payable. So the Balance Sheet is saying I owe $79,000 ($57,000 + $22,000)!??? I am assuming this $57,000 is for items I have received into my inventory but have not yet received a bill for in Netsuite. Is that right? If so, how can I find out what items I haven't paid for?
0