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Thassell1963
October 12, 2024
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Accounts Receivables

  • October 12, 2024
  • 1 reply
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<span;>I'm trying to help someone catch up on their accounting. The gal they had before  ever entered customer invoices, just statement charges.She sometimes applied payments to them and sometimes just entered the deposit manually. This happened over a period of years and now the A/R report has many negative balances that look like credits. The 0-30 and 31-90 are accurate, but everything after that isn't. I'm thinking a journal entry, but I have no idea where to move the wrong A/R entries, any suggestions?

Best answer by RhoiceW

It's nice to see you here in the Community, Thassell. Allow me to help you rectify the Accounts Receivables and where to move the wrong A/R entries in QuickBooks Desktop (QBDT).

 

To start, I completely agree with your suggestion about creating a Journal Entry so your friend can address their A/R entries.

 

To do that, please follow the steps below:

 

  1. Create a journal entry by going to the Company menu.
  2. Under the Account column, click the dropdown arrow and select Accounts Receivable.
  3. Enter the single line deposit amount in the Debits column.
  4. On the second line, select a bank account under the Account column
  5. Re-enter the single line deposit amount in the Credits column.
  6. Once done, click Save and close.

 

I'd also suggest reaching out to an accountant for them to be recommend where to move the wrong A/R entries and to ensure you’re getting the most accurate and efficient financial management.

 

Additionally, you may want to check this article so you can assist your friend if they need help reversing their journal entry: Reverse or delete a journal entry in QBDT .

 

Get back to this post if you have further concerns about fixing the negative balances in the A/R report. We're here to help.

1 reply

R
RhoiceWAnswer
October 12, 2024

It's nice to see you here in the Community, Thassell. Allow me to help you rectify the Accounts Receivables and where to move the wrong A/R entries in QuickBooks Desktop (QBDT).

 

To start, I completely agree with your suggestion about creating a Journal Entry so your friend can address their A/R entries.

 

To do that, please follow the steps below:

 

  1. Create a journal entry by going to the Company menu.
  2. Under the Account column, click the dropdown arrow and select Accounts Receivable.
  3. Enter the single line deposit amount in the Debits column.
  4. On the second line, select a bank account under the Account column
  5. Re-enter the single line deposit amount in the Credits column.
  6. Once done, click Save and close.

 

I'd also suggest reaching out to an accountant for them to be recommend where to move the wrong A/R entries and to ensure you’re getting the most accurate and efficient financial management.

 

Additionally, you may want to check this article so you can assist your friend if they need help reversing their journal entry: Reverse or delete a journal entry in QBDT .

 

Get back to this post if you have further concerns about fixing the negative balances in the A/R report. We're here to help.

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