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How can I remove old unpaid BILL from a prior year and adjust the current year income.

Forum|Forum|4 years ago
July 1, 2022
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I have 2 old unpaid Bills from the prior year, but they are now canceled because the products are not being delivered. I am on an accrual basis so they were written off as expense last year. So, how do I delete the old bills and enter them as income this year? I'm using quickbooks desktop 2018.

Thanks in advance for your help.

QuickBooks Desktop

Best answer by Rustler

You do not delete them since they are part of the years financial reports and income tax filing.

Enter a vendor credit and use Other Income as the account for the credit, then in pay bills apply the credit to the vendor bill

You do not delete them since they are part of the years financial reports and income tax filing.

Enter a vendor credit and use Other Income as the account for the credit, then in pay bills apply the credit to the vendor bill

Huh. So simple yet, makes sense in so many ways. Thanks a bunch for the help.