Commissions Contract Labor

I've got a way how to reduce the vendor amount owed, Ronnie Smith.

You can create a journal entry to reduce the bad debt to the vendor's current balance. Before doing the process, I recommend consulting with your accountant if you're unsure

what account to use. 

Here's how:

1. Click + New, then select Journal entry.
2. On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
3. On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
4. Check the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
5. Enter information in the memo section,so you know why you made the journal entry.
6. Select Save and close.

To check your vendor balance totals, you can run a Transactions List by Date report and customize it to the data needed.

Here are articles for additional reference and a guide:

• Run report with vendor totals.
• Customize reports in QuickBooks Online.

Let me know if you have any follow-up questions about managing vendor balances in QBO. I'll be around to help.