Bringing a payment forward into a new year

Thanks for joining us here in the Community, Granny2.

I'd be glad to point you in the right direction concerning the down payment in your QuickBooks Desktop account.

In this situation I recommend reaching out to an accountant to be sure of the next steps. Moving the initial down payment from one year to another would require certain adjusting entries. An accountant would be to able to give you the best advice for this movement.

If you don't currently have an accountant, you can find one in your area specifically trained in QuickBooks by searching here: Find a ProAdvisor

Please feel free to reach back out if you need additional assistance with the entry after speaking with them. I'll be here to help in any way that I can.

@Granny2 

How was the down payment recorded?  Ideally, it would have been recorded as an other current asset where it should be sitting.  You can then make a journal entry to move that to the expense/asset account as needed: debit the expense/asset account and credit the other current asset account for the down payment amount.  That will add the cost to the expense/asset and close out the down payment other current asset account.  Alternatively, if you created a product for the down payment in 2022, you can enter that product as a negative amount on a separate line to reduce the amount due on the final bill in 2023.