Quickbooks Online old customer payments from 2018 how to clear those out

We have to make a journal entry to clear the customer payments and then reverse it to help streamline your future reconciliations and keep your books organized, J-Linn4171.

Before we begin, it's a good idea to reach out to your accountant to assist you in managing your debits and credits effectively. They can also provide alternative methods to get your customer payments settled correctly.

When you have the information handy, create the entry by following these steps:

1. In your company, go to the + New menu in the upper left and select Journal entry under the Other column.
2. On the transaction screen, fill in the following fields with the correct information: Journal date, and Journal no.
3. In the Account column, enter the category you wish to use. Input the amount in the right column based on whether you'll have to debit or credit the account.
4. On the next line, select the other category you're moving money to or from and enter the same amount in the opposite column.
5. Ensure you have the same amount in the Credit and the Debit column to balance the account.
6. Click Save or Save and new.
   
   

Refer to this article for detailed instructions and visual reference: Create journal entries in QuickBooks Online.

Next, let's reverse the journal entry you've created. Here's how to do it:

1. Go to the Search icon in the upper right and look for the journal entry.
2. Open the transaction and click the Reverse link
3. Update the date to the day following the original journal entry's date.
4. Select Save and Close.
   
   

I've included some resources that contain solutions on how to clear the balances in your Accounts Receivable (A/R):

• Resolve accounts receivable or accounts payable balances on a cash basis balance sheet in QuickBooks....
• Clear up customers with zero net balances in the Accounts Receivable Aging report
  
  

You can also check out our online tutorials for a visual guide on accounting processes, and refer to our checklist to help you start using QBO.

In addition, we have a team of experts who can offer personal guidance on linking your accounts, automating tasks, and teaching the best bookkeeping practices to increase your efficiency. Check out QuickBooks Live Expert Assisted for more details.

Stay in touch if you need further assistance navigating QBO or have other product-related concerns. We're always available to provide the guidance you need.