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Frieaza
Apr 3, 2024 8:36 AM UTC
Solved

Clearing old Vendor invoices

@Rainflurry 

Hello,

Old vendor invoices

Hello,

I have four unpaid invoices from february 2024 on accrual basis. The vendor said that I don't owe him anything. How do I clear the four invoices?

 

Thanks

Rainflurry
RainflurryAnswer
Apr 3, 2024 12:25 PM UTC

@Frieaza 

 

If Feb. is closed, create a vendor credit for each invoice and enter the same Category/Item details on the vendor credit that are on the invoices.  Then, apply the vendor credits to the invoices.  If Feb. isn't closed (or you're a small business that doesn't have a formal close), you can delete the invoices.  If you create vendor credits and apply them, your P&L will show the expenses in Feb. and a reduction in those expenses in Apr.  If you delete them, the expenses on Feb.'s P&L will be reduced.        

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5 replies

Nicole_N
Nicole_N
Apr 3, 2024 10:09 AM UTC

I can see that it's a duplicate post, @Frieaza.

 

My colleague, RCV, shared some information about your concern on how to clear unpaid invoices in QuickBooks Desktop. You can reply to her through this link or add some follow-up questions so we'll be able to assist you further: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/re-old-vendor-invoices/01/1420672/highlight/true#M214546

 

The QuickBooks Community team is always here to provide the help you need. Have a good day!

Rainflurry
RainflurryAnswer
Apr 3, 2024 12:25 PM UTC

@Frieaza 

 

If Feb. is closed, create a vendor credit for each invoice and enter the same Category/Item details on the vendor credit that are on the invoices.  Then, apply the vendor credits to the invoices.  If Feb. isn't closed (or you're a small business that doesn't have a formal close), you can delete the invoices.  If you create vendor credits and apply them, your P&L will show the expenses in Feb. and a reduction in those expenses in Apr.  If you delete them, the expenses on Feb.'s P&L will be reduced.        

FrieazaAuthor
Apr 3, 2024 2:49 PM UTC

February 2024 is already closed. so I created a vendor credit for each invoice and applied it to the invoices. the total came up to 2,580.7. When I run the P&L for March 2024, the expense account used for the invoices in Feb will show  -2,580.7.  Is that right?

 

Thanks

Rainflurry
Rainflurry
Apr 3, 2024 11:30 PM UTC

@Frieaza 

 

If the vendor credit(s) is dated March then, yes, that's correct.  

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