Occassionally, a damaging stability arises in Accounts Payable (A/P), and enterprise homeowners who deal with their very own books do not perceive how the issue occurred or what to do about it. This is the news:
A damaging stability in A/P can generally imply that payments have been entered, and checks have been written in opposition to these payments, however the authentic payments by some means bought deleted or voided. The bill-payment checks are left “hanging” within the system, making a damaging stability in A/P.
When you discover a damaging stability in A/P, and even when you’ve got sure distributors who present a damaging stability within the Vendor listing, go to the Studies menu and choose Distributors & Payables. Then choose the Unpaid Payments Element report. Scan by means of the report and search for damaging quantities. When you see any, double click on on them.
After double clicking, a bill-payment test ought to open. Have a look at the decrease half of the display screen. Probably, there will probably be no invoice situated right here, no quantity in any respect, nothing to point that this test was utilized to a invoice. In that case, go away this window open, and go to the Distributors menu. Choose Enter Payments. Enter a invoice to the seller you simply noticed on the final display screen. Make sure to use the identical quantity you noticed on the test. You’ll need to guess as to the right due date – higher but, attempt to find the unique invoice so you may get appropriate data off it. After coming into it, click on Save & New to depart the window open when you’ve got extra payments to enter, or Save & Shut to shut the window if you’re completed.
After coming into the invoice, return to the bill-payment test. Have a look at the decrease half of the display screen – the invoice must be there. Whether it is, place a checkmark subsequent to it, and enter the right amount (the quantity on the test) within the far proper column. Click on Save and Shut. QuickBooks will ask if you’re positive you need to save the transaction – click on Sure.
Go to the Unpaid Payments Element report and click on Refresh. The bill-payment test, which triggered the damaging quantity on this report, ought to now be gone. Observe these steps for all damaging quantities you see on this report.
Necessary: discover that you simply didn’t repay the re-entered payments – you didn’t use the Pay Payments operate. The unique bill-payment checks have been within the system, and we merely utilized these checks to the re-entered payments. When you by accident repay the re-entered payments, this won’t remedy the issue of getting a damaging stability in A/P.
When you see damaging quantities that DO have payments utilized in opposition to them, that is a matter past the scope of this text.