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How do I clear up old stuff on my A/P aging detail?

Forum|Forum|2 years ago
December 7, 2023
2 replies
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Hello! I have some old transactions (e.g., deposits, journal entries) on my A/P aging detail report. How do I remove those? See the attached screenshot for examples.

Thanks!

QuickBooks Online

Best answer by Rainflurry

@wreade78

When you go to Pay bills, click on 'Filter' and select 'All dates'. QBO defaults to only showing bills from the last 365 days and all of these are older than that. You have 4 transactions that have matching "bills" and credits so they should be able to be cleared against each other:

$113.95

$3.95

$35.00

$18.60

That leaves 2 "bills":

Deposit $24.00 and Journal Entry $220.45 = $244.45

And, 5 credits:

Bill Payment ($227.90), Bill Payment ($77.90), Journal Entry ($135.00), Bill Payment ($37.20), and Vendor Credit ($13.69) = ($491.69)

You will need to look at each one and figure out what account needs to be offset with A/P to clear it. For example, you have a $24.00 deposit that was posted to A/P. If the deposit was reconciled, then you need to determine if you still owe the vendor $24.00. If you don't, then create a $24.00 vendor credit and select the appropriate Category. If you don't know what Category to select, ask the company accountant/CPA if necessary. The Bill payments are caused by overpayments. You reverse those with a bill. The Category is generally an expense account but, again, you need to determine that. After you have entered the offsetting bills and credits, don't forget to clear them against each other by going to Pay bills.

G

GebelAlainaM

Hello there, @wreade78.

I'll ensure to provide information on how you can clear old bills in your Accounts Payable aging detail report in QuickBooks effectively.

Based on the screenshot provided, it seems that you've already created offsetting entries on your report. We can clear your accounts payable by linking those entries to the outstanding transactions and the existing credits. Also, you can take advantage of the Pay Bills feature. See this article for guidance: Enter and manage bills and bill payments in QuickBooks Online.

For future reference tracking your expenses in QBO, you can check out these articles:

Tag me in the comment below if you have additional queries in managing expenses and other QuickBooks concerns. I'm always here to help you.

W

wreade78Author

@GebelAlainaM Thanks for your message! Unfortunately, I don't understand.

Can you give me specific instructions of what I need to do? For example, how do I clear the deposit dated 12/2/2019 from the the A/P aging detail report?

Thanks!

Clark_B

Hello there, @wreade78.

I'd be glad to help you clear your old transactions from your Accounts Payable aging detail report in QuickBooks Online (QBO).

I can see that you have offsetting journal entries on your report. To resolve this and clear your accounts payable, you can record a bill payment or an expense and then link the outstanding transaction with the existing credit.

Here's how:

Go to the +New icon.
Click on Expense or Pay Bills.
For Pay Bills
1. Set your Payment account, then enter the date and other details.
2. Locate the pending transaction, then apply the existing credit.
3. Save the transaction and ensure that the Total Payment Amount is zero (0.00).
For Expense
1. Select the vendor name under Payee.
2. Add the debit and credit transactions from the Add to Expense section.
3. Review the details, then click on Save and Close.

For reference, you can check these articles in tracking bills and expenses in QBO:

Aside from that, you can run through the resources from these articles for more resources while managing your other vendor entries in the future: Expenses and vendors.

Please let me know if you have any further questions or need additional help with recording a bill payment. I'm always here to assist you. Have a great day!

Rainflurry

@wreade78

@GebelAlainaM and @Clark_B can't possibly tell from your screenshot that there are offsetting entries. There may be, but there's not enough info on your screenshot to know that.

If you have positive and negative amounts with the same vendor, you can clear them by going to pay bills and applying the "credits" to the "bills".

It would help a lot if you could include the amounts of the entries from your screenshot. You clear bill payments by having a bill to apply them to. You generally clear the deposits by creating a credit memo or a journal entry that debits A/P. It's not possible to tell from your screenshot how to clear the journal entries because it depends on whether the A/P amount is positive or negative. Positive amounts require a reduction in A/P (bill payment or journal entry that debits A/P, and other ways) and negative A/P amounts require an increase in A/P (bill, journal entry that credits A/P, and other ways). If you can provide more info (details of each entry), I can try and assist further.

W

wreade78Author

@Rainflurry Thanks for your message. Here's a screenshot showing more info. Note: None of these are appearing in my "pay bills." Thanks!

RainflurryAnswer

@wreade78

When you go to Pay bills, click on 'Filter' and select 'All dates'. QBO defaults to only showing bills from the last 365 days and all of these are older than that. You have 4 transactions that have matching "bills" and credits so they should be able to be cleared against each other:

$113.95

$3.95

$35.00

$18.60

That leaves 2 "bills":

Deposit $24.00 and Journal Entry $220.45 = $244.45

And, 5 credits:

Bill Payment ($227.90), Bill Payment ($77.90), Journal Entry ($135.00), Bill Payment ($37.20), and Vendor Credit ($13.69) = ($491.69)

You will need to look at each one and figure out what account needs to be offset with A/P to clear it. For example, you have a $24.00 deposit that was posted to A/P. If the deposit was reconciled, then you need to determine if you still owe the vendor $24.00. If you don't, then create a $24.00 vendor credit and select the appropriate Category. If you don't know what Category to select, ask the company accountant/CPA if necessary. The Bill payments are caused by overpayments. You reverse those with a bill. The Category is generally an expense account but, again, you need to determine that. After you have entered the offsetting bills and credits, don't forget to clear them against each other by going to Pay bills.

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