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gbails2002
July 15, 2024
Question

AR Aging Summary balance doesn't match Balance sheet

  • July 15, 2024
  • 1 reply
  • 0 views

I am using Enterprise 22.0

 

One customer has no balance in the customer center. But when I run the AR Aging Summary I see a negative balance. The total for the AR aging is off by this balance when compared to the balance sheet. I have tried to check and see nothing to apply this to an invoice as no invoice or unpaid transaction is in this customer's account. Not sure I need to run Utilities Rebuild or Verify data to clear. Any thoughts?

 

So AR for Customer shows -4,494.00, AR summary is 4,494 lower than the total on the balance sheet.

    1 reply

    MorganB
    MorganB
    July 15, 2024

    Hello, gbails2002.

     

    Thanks for turning to the Community for support. I'm happy to provide some info about the A/R Aging Summary report in your QuickBooks Desktop account.

     

    Any payments from your customers will be marked as negative in the A/R (Accounts Receivable) Aging Summary. This is because they are decreasing the amount that is outstanding. Any negative amounts should be posted to an invoice for your customer. Here's how to get this done:

     

    Apply the credit to an invoice you already created

    1. Click + New.
    2. Select Receive payment or Receive invoice payment.
    3. Choose the customer, then the credit and the invoice.
    4. Select Save and New or Save and Close.
     

    Apply the credit to a new invoice

    1. Click + New.
    3. Select Invoice and create it. 
    4. Choose + New. Then select Receive payment or Receive invoice payment.
    5. Select the credit and then Save and New or Save and Close.

     

    Once you've completed the steps, check the A/R Aging Summary report balances once more. Please feel free to drop a comment below if you have any other questions. I'll be here to lend a hand.

    G
    gbails2002Author
    July 15, 2024

    The issue is there is no credit to apply, as it was applied before. When you drill into the vendor account the balance is zero. The balance only appears in the aging, even though it was applied in the past. That is why the total AR is different the amount shown on the aging. 

    MorganB
    MorganB
    July 15, 2024

    Thanks for getting back to me, gbails2002.

     

    Looking into this a bit further, the mismatched balances could be the result of:

     

    • Different settings in the report/s and on the Chart of Accounts (COA).
    • Rebuilt names
    • Damaged links or data
    • Transactions with no Customer: Job name

    To fix the issue you may have to update the report settings, here's how:

     

    1. Run the A/R Aging Detail report:
    2. On the Reports menu, choose Customers & Receivables, then click A/R Aging Detail.
    3. Set the Dates to All.
    4. Select Customize Report, and under the Display tab, click the Advanced button, then Report Date.

     

    The following article provides additional info for when the AR balance on the Chart of Accounts does not match AR balance on reports.

     

    Let me know how things look afterward. I'll be here if you have any other questions. 

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