QUICKBOOKS: You reconcile a clients bank account up to today and see that their Undeposited...
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Accounting
QUICKBOOKS:
You reconcile a clients bank account up to today and see that their Undeposited Funds account has a debit balance for today. The client has told you that all payments have been deposited.
What else will you likely find?
Overstated income
Understated expenses
Overstated accounts receivable
Post-dated Receive payments transactions
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