Skip to main content
J
jolenehawes
January 3, 2024
Solved

General Entries in AP showing on A/P Aging

  • January 3, 2024
  • 2 replies
  • 0 views

Hello, we have some old general journal entries on our AP report that I need to find a way to clear out without deleting. I have attached a screen shot to show that they net to $0.00 however, is there a way to apply these entries to each other so this vendor does not show up at all on the AP report as showing a $0.00 balance. 

 

Thanks!

Best answer by BigRedConsulting

@jolenehawes 

To clear these from the report, use the Pay Bills feature to apply them to each other. One of them will appear as a Bill to pay and the other will be available as a credit, which can be applied to the bill.

 

First, select the item that appears in the pay bills table, then click the Set Credits button to apply the funds from the other Journal to it.

2 replies

R
RCV
January 4, 2024

Let me help you clear out the vendor balances in the QuickBooks Desktop report, jolenehawes.

 

You may have small balances that are the result of an error, an overpayment, or an underpayment. Often it would cost more time and materials to collect or pay the amount due than it would be to clear it from your accounts.

 

We can create a General Journal Entry to write off the amount in the Accounts Payable. 

 

  1. From the Company menu, select Make General Journal Entries.
  2. In the Make General Journal Entries window, change the date and fill in the entry number if necessary.

 

For vendors with overpayment:

 

  1. Choose the Account field and click Accounts Payable from the dropdown list.
  2. Enter the amount under the Credit column, tab to the Name column, and select the vendor name from the dropdown list.
  3. In the next line, select the offset account and enter the amount under the Debit column.

User-added image

 

For vendors with underpayment:

 

  1. Choose the Account field and choose Accounts Payable from the dropdown list.
  2. Enter the amount under the Debit column, tab to the Name column, and select the vendor name from the dropdown list.
  3. In the next line, select the offset account and enter the amount under the Credit column.
  4. Press Save & Close.

 

Then, apply the journal entry to the existing debit/credit:

 

  1. From the Vendors menu, select Pay Bills.
  2. Choose the bill and choose Set Credits.
  3. Under the Credits tab, select the available credit and select Done.
  4. Press Save & Close.

 

To learn more about this one, check out this article: Write off customer and vendor balances. Another option is to create a bill to clear the balances. When you pay bills, don’t write a check. If you do, the bills remain open and unpaid which leads to inaccurate financial reports. Follow the steps in this article to pay a bill properly: Pay bills in QuickBooks Desktop.

 

Feel free to visit this page to learn the A/P workflows in QBDT: Accounts Payable workflows in QuickBooks Desktop.

 

Should you need further assistance with this? Or do you have any additional QuickBooks-related concerns? Feel free to get back to me anytime. It'll be my pleasure to help you again. Take care, and have a great day!

BigRedConsulting
BigRedConsulting
January 4, 2024

@RCV  RE: We can create a General Journal Entry to write off the amount in the Accounts Payable. 

 

Uh, did you read the OP's question? Or look at their screenshot? It seems not.  Is it really that hard to actually answer the user's question?

BigRedConsulting
BigRedConsultingAnswer
January 4, 2024

@jolenehawes 

To clear these from the report, use the Pay Bills feature to apply them to each other. One of them will appear as a Bill to pay and the other will be available as a credit, which can be applied to the bill.

 

First, select the item that appears in the pay bills table, then click the Set Credits button to apply the funds from the other Journal to it.

    J
    jolenehawesAuthor
    January 4, 2024

    Thank you! I had to change the A/P account to an seperate holding accounting that a previous employee set up but once I changed that, I was able to clear them as you suggested. Thank you very much!

      Terms & ConditionsAccessibility statement