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M
MoJo7
December 30, 2024
Question

Need to Reconcile Old Liability Account and Close

  • December 30, 2024
  • 1 reply
  • 0 views

I recently inherited the books for my church and have found an old liability account that was paid off in early 2022, but shows open in quickbooks with a balance.

 

In looking further, it appears that the opening balance was entered with an incorrect amount, and the payments applied did not reflect the actual amount of the payments (principle only). We have since paid off the loan and I would like to reconcile this old account and close it in quickbooks. However, I am unsure of the proper steps. 

 

The account was opened in 5/2017.

 

Any help would be appreciated.

1 reply

A
Amanda-B
December 30, 2024

Hey there, MoJo7.

 

Thanks for reaching out to the Community for support. Making sure you get the support you need is important. With that being said, I suggest reaching out to the support team outside of the Community. They'll be able to do a screenshare with you and guide you in the right direction. You can reach them by following these steps:

 

Schedule a Callback: click (?)Help in the upper right > type and enter "Contact support" into the QB Assistant > click Contact Us > explain your situation > click Let's Talk > choose Get a callback.


If you have any other questions, feel free to reach back out.

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