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Experienced Member

Create "Apply Payments" for Vendor transactions

Before exporting from QB Desktop to QBO, I consolidated my QB Desktop file. I selected to use a monthly JE so I can run report by month for historical reasons. This created 96 JEs. Each JE had a line for Accounts Payable associated with the vendor "Consolidated Vendor." Every looked fine until I ran an AP Aging report today. Each of those JEs showed as an open item, despite the fact that they all netted to $0.00. Since none of them were bills, I couldn't go in to apply the "Vendor Credit" JE to close out the open amount. The same thing happened in AR but I was able to go to "Apply Payment" for customers and select the JEs so they zeroed out and were listed as closed.

 

I found a work around by created an Other Current Liabilities account and reclassing each JE line from Accounts Payable to the new OCL Account. I should have not had to do this. I should have an option to apply payments just like I do with AR. Fix this!

1 Comment
Frequent Contributor *

Re: Create "Apply Payments" for Vendor transactions

By using journals you made it more difficult than it needed to be. If for example you had 10 trade creditors then you could have entered a bill for each of them that posted the bills to "other trade creditor" and then you could have 1 journal entry for your opening balances with the balance of trade creditors acting as a contra.