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Inventory Received Not Billed?

edited Nov 26, 2019 8:39AM in Accounting / ERP 4 comments

I have a negative figure in -£16,459.12 in "Inventory Received Not Billed" for the end of the last financial year March 2010.

I believe that this has arisen because some suppliers have charged us more than the prices on the Purchase Orders. However I don't know if this figure could be higher as it is possible that we may have received goods in a different month than the month of invoice(I don't believe this to be the case but I assume it is possible). I believe that the consequence of this is that our inventory valuation is understating it's true value and the negative liability is not real. So in effect our Inventory is worth more than stated and our liabilities are

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