Transactions
Hello there, FineCarp.
You have to create a journal entry to offset your A/P account with your Clearing account, so you'll be able to clear the overpayment. Let me walk you through.
To create a clearing account, please refer to @Charies_M for the steps.
Then, create a journal entry. Here's how:
- Click Create (+).
- Click Journal Entry.
- In the Account column, select Accounts Payable (A/P), enter the overpayment amount in the Credit column.
- Click the vendor's name.
- In the next line, select the Clearing Account, then enter the same amount in the Debit column.
- Click Save.
- Locate open transaction and click Make payment apply the journal entry.
- Click Save and close.
Feel free to read this article for your reference: How to record a barter transaction.
The Community is always here for you if you have questions. Stay in touch.
