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M
MFabian1
October 24, 2024
Question

AR Account

  • October 24, 2024
  • 1 reply
  • 0 views

We are having a difficult time clearing a balance from 2016. The customer's account says he owes $109.90, yet the AR Summary report shows a credit of $109.90. It appears an attempt was made to clear the balance in 2019 by creating an invoice to off-set the credit. 

 

Can anyone help us clear this before our audit?

 

 

1 reply

K
KimAnnVA
October 24, 2024

Check and see if the credit is applied to the invoice.  Sometimes there is a credit that you have to go into and then select the check box to the invoice with the same amount.

 

If you go into the open invoices and see a positive $109.90 and -$190.90 underneath than this is most like the issue. 

 

 

K
KimAnnVA
October 24, 2024

 

Check and see if the credit is applied to the invoice.  Sometimes there is a credit that you have to go into and then select the check box to the invoice with the same amount.

 

If you go into the open invoices and see a positive $109.90 and -$109.90 underneath than this is most like the issue.   (Sorry, accidentally did a typo on amounts, they should be same amount)

 

 

C
CamelleT
October 24, 2024

Thanks for sharing a screenshot of your concern, MFabian. Let's sort out the balance from 2016. We'll work through the necessary measures to resolve this problem, so you can have peace of mind knowing your accounts are accurate and ready for audit.

While I can walk you through the possible technical inputs of clearing this, it would be best to seek advice from your accountant regarding books from past years, as they possess the necessary expertise and resources to provide you with appropriate guidance.

To link the outstanding balance from 2016 with the credit displayed in the AR Summary report, we can delete the invoice created last 2019. However, please note deleting transactions from previous years will affect your balances. I'll share the steps below for your guide: 
 

  1. Go to Customers and pick Customer Center.



  2. Click the client's name.



  3. Under the Transactions tab, choose Invoices from the SHOW dropdown.



  4. Locate the 2019 invoice. Right-click and select Edit Transaction.
  5. Tap the Delete icon in the upper-right corner.



  6. Hit OK.


Next, connect the credit to the 2016 sales form. 
 

  1. Tap the Customers menu and choose Receive Payments.
  2. Select the customer. 



  3. Locate the 2016 invoice and place a checkmark before it. Then, click Apply Credits.



  4. Tick the credit ($109.90) with the same amount as the invoice.
  5. Press Done.
  6. Hit Save & Close.


The methods outlined above are designed to help you align your accounts and fix the discrepancy. If you have other questions about managing invoices or credits in QBDT, please add them below. I stand ready to provide support and offer any additional guidance you may need to successfully navigate these financial procedures.

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