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VKniss - RDM
January 9, 2024
Question

Reconciling vendor transaction

  • January 9, 2024
  • 1 reply
  • 0 views

Hello,

 

I'm having an issue when we enter our credit card information to be pay (purchase orders and expense items) and processing a check payment and/or ACH payment, the GL amount are not reflecting correctly. For example, if I go to the Transaction Detail by Account report for a certain GL. It will show the line item on the bill, the vendor, the memo, and class but in the Debit column it is showing an lesser amount than the original amount. It only does this for the credit card not any other vendor. We process the bills all the same so I'm not sure why it does not to this for all. My Company is on a Cash Basis too. Please let me know if you have any thoughts on why this is happening? Thank you!

1 reply

R
RoseJillB
January 9, 2024

Thank you for bringing this to our attention, VKniss. Let me share some information about the amounts you see in the QuickBooks Desktop reports (QBDT).

 

Beforehand, debits are accounting entries that increase asset or expense accounts and decrease liability accounts. Meanwhile, credits do the reverse. Since you mentioned that you’re using the cash-based accounting method, this can affect the amounts shown in the report.

 

The accrual accounting records the amounts when the transaction occurred. The cash accounting method records the revenue and expenses when the amounts related to the transactions are received.

 

To sort out your concern, please consider filtering the dates where all the transactions have been made to include entries that could have been causing the debits to be less than the original amount.

 

Furthermore, you can visit this article for customizing reports. Doing so will help you generate data within the specified period and customize additional columns for particular information: Customize reports in QuickBooks Desktop.

 

If you have other queries about reports or any QuickBooks-related topics, please let me know by adding a comment below. I’m always available to help. Take care!

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