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SBPOA
November 18, 2023
Question

Checking Account Register

  • November 18, 2023
  • 3 replies
  • 0 views

I am cash accounting method but when I created invoices it was set to Accrual. Now I see AR transactions (invoicing and payments) in the checking account registry and need to clean that up. How do I remove them from my checking account registry so my account and reports show correctly?

3 replies

Clark_B
Clark_B
November 18, 2023

Hello there, @SBPOA.

 

Thank you for contacting the Community. I would be happy to assist you in removing transactions in QuickBooks Online (QBO).

 

You may want to create a Journal Entry to clear out your Accounts Receivable transactions. However, I suggest seeking guidance from your accountant for the accounts affected and more accurate information.

 

Here's how:

 

  1. Click + New.
  2. Select Journal entry.
  3. From 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.
  4. On the next line, choose 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.
  5. 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.
  6. Enter information in the memo section so you know why you made the journal entry.
  7. Select Save and new or Save and close.

 

You may also refer to this article for more detailed steps: Create journal entries in QuickBooks Online.

 

You can also check this article to guide you in running financial reports: Run reports in QuickBooks Online.

 

Please let me know if you have other questions about QuickBooks. I’ll be right here with you.

Rainflurry
Rainflurry
November 18, 2023

@SBPOA 

 

Unless your cash reports are incorrect, this sounds normal.  Regardless of whether you select cash or accrual as your accounting method, bills and invoices will post to A/P and A/R, respectively.  When you select cash as your accounting method, QB just defaults to running reports on cash basis.   

 

    

 

Rainflurry
Rainflurry
November 18, 2023

@SBPOA 

 

One more thing...  To confirm QB is working properly, run a P&L from 1-1-23 to the invoice date in question.  On accrual basis, you will see the invoice amount included in your income.  Then, select the cash basis radio button.  It should now be removed from income.    

 

Ignore @Clark_B 's response.  You do not want to create a journal entry to remove the amount from A/R.  

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