![]() Quickbooks Repair Pro will resolve it efficiently and affordably. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options. ![]() First try to resolve the issue yourself by looking for a resolution described below. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. Support for this issue is available either by self-service or paid support options. How to offset an Account Payable with a Receivable: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Resolution for Issue 'How to offset an Account Payable with a Receivable' available: Yes (Solved). Click Save&Close (make sure there is no amount on the PAYMENT column if you are just applying the credit).Click ‘Discounts and Credits’ > select the credit from the journal created.Click on ‘Pay Selected Bills’ (please make sure that there is no balance in the ‘AMT TO PAY’ column on the far right side of the pay bills window if you are just applying the credit from receivable).Click on ‘Set Credits’ > select the CREDIT > click Done.Select the ‘Wash Account’ on the second line > put the amount in the CREDIT columnĪpply the vendor credit created by the 2nd Journal to bill:.Select ‘Accounts Payable’ on the first line > put the amount in the DEBIT column > add the vendor name on the NAME column.To create journal to transfer from Wash Account to Payable: Select Accounts Receivable on the 2nd line > put the amount in the CREDIT column > add the customer name on the NAME column.Select the ‘Wash Account’ on the first line > put the amount in the DEBIT column.Go to Company > click Make General Journal Entries.To create journal to transfer Receivable to Wash Account: On the window > select Bank > name the Account as ‘Wash Account’ (this account will be zero out after the process).On the lower left side > click on Account > select New.The instructions here may look like there’s a lot to do but I just want to make sure I got them in detail for you, this will not take your more than 5 minutes to do. We then need to create a journal entry that will transfer the receivable to the payable account but we need to use a ‘wash account’ that will serve as a holding account since QuickBooks will not allow us to simply do the transfer. This sounds like you want to pay a vendor bill using a collectible amount from an invoice. But don’t worry we have workarounds to help you complete the task. The software is designed to work independently for these two special accounts. It’s really a challenge when you use QuickBooks to record receivable to payable balance.
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