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T
TW67
July 14, 2021
Question

Accts Receivable journal entries

  • July 14, 2021
  • 2 replies
  • 0 views

This is for QB Desktop Premier:  I have a j/e that is in May for sales (debit A/R and Credit Sales). I also have the Customer name under the  "name field" on the journal entry but it seems to be doing nothing. I have a payment being made in June for this j/e (debit cash and Credit A/R). Also using the Customer name in the "name field".   How do I apply the "payment" journal entry in June to the May j/e?  Normally I use the sales invoice/receive payments program but we have started a new billing program that integrates with QB and this is how it generates and pulls over the Sales.    This new program does not generate a customer invoice so therefore everything is run through journal entry for receivables.  Right now my Aged A/R shows an amount due under the 30-60 days but also shows a credit amount under the 1-30 days column.  I need to merge these two numbers so that my A/R is not cluttered up.

2 replies

J
JamesM4
July 14, 2021

Hello TW67,

 

QuickBooks Desktop is a dynamic program that simplifies the way you manage your transactions. I'd be glad to steer you in the right direction so you can get the resolution you need. 

 

Making sure you're recording your transactions properly is an essential step for maintaining clean books. Based on what you've described, I'd recommend reaching out to an accounting professional for expert advice on how to record the transaction. If you're not in contact with a professional, don't worry, you can search for one using this link here. 

 

I'll also leave this question open in the Community so other accountant users can share their advice. Otherwise, feel free to ask other questions, I've got your back. 

T
TW67Author
July 15, 2021

Thank you.   The IIMF Importer program that I am using does not generate a sales invoice when it merges the two softwares (Kaleidicare and QB).  It generates journal entries for sales and payments. I am trying to figure out how to apply the journal entry payment to the journal entry for accounts receivable.

 

C
Chi Nguyen
July 15, 2021

Perhaps you can try to do a Zero "Receive payment" and apply the payment/credit against the sales invoice. I am not sure if it works but it's worth a try. I do the same for my AP accounts when I have unallocated payments that need to be applied against outstanding invoices. Same principle.

T
TW67Author
July 15, 2021

Thank you but with this new integrated program that I am using with QB, there is no sales invoice created.  It is all done through journal entry.  I am trying to figure out how to apply a "payment" journal entry to the "sales" journal entry.

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