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Simon H
Level 2

Assigning a transaction to a particular debtor / creditor type account

Just have migrated to QB online from QB Pro 2016 desktop.

QB set up several debtor / creditor accounts when I set up the company as a not for profit / charity

  • Debtor: Accounts Receivable, Pledges Receivable, Grants Receivable .. and others
  • Creditor: Accounts payable and Grants payable.

In QB 2016 Pro all payments showed under Accounts Payable. All receipts showed up under Accounts Receivable apart from one customer whose receipts showed under Grants Receivable ( I have no idea how this happened).

After the migration through a 3rd party service, a documented "limitation" caused all Debtor accounts to lumped in together - likewise with the creditor accounts. Unfortunately it chose the wrong account.

Since then new transactions also show under the wrong account.

 

I would like to have new transactions assigned correctly from the new financial year.

 

Have spent hours searching through account / customer definitions , QB online settings as well as the QB  community to see where the usage of the debtor / creditor type accounts are defined. 

 

No luck. - can anybody help????

 

Solved
Best answer April 22, 2023

Accepted Solutions
LieraMarie_A
QuickBooks Team

Assigning a transaction to a particular debtor / creditor type account

Thanks for following up on this thread, @Simon H.

 

Yes, a bill or invoice entered into QBO uses the default AR or AP. These were created when you set up your company or those selected during conversion. Changing the defaults is unavailable in QBO.

 

I encourage you to add your vote for this one by sending a feature request in the Feedback section within QuickBooks. Our product development team reviews all the feedback we receive to ensure we’re meeting the needs of our customers.

 

Here's how:

 

  1. Select the Gear icon at the top, then Feedback.
    Capture.JPG
  2. Enter your comments or product suggestions then select Next.
  3. You'll be provided a list of suggested Help articles related to your comment. You can read through them or select Skip and send message.
  4. From the drop-down, choose the appropriate category, then select Send message.

 

You can track feature requests through the QuickBooks Online Feature Requests website.

 

Additionally, if you need to choose a specific AP or AR, you may create a journal entry instead.

 

I'm always here if you have any additional concerns about managing invoices or bills. Thanks again for coming to the Community. Wishing you continued success!

View solution in original post

8 REPLIES 8
JoesemM
Moderator

Assigning a transaction to a particular debtor / creditor type account

Hello there, @Simon H.

 

I appreciate the complete details of your concern. Let me help you contact support to help you with your transactions and accounts.

 

Since you use a third-party migrator tool when converting your QuickBooks account, I'd suggest contacting their Customer Support to check the mapping of your transactions. They can verify the settings to ensure your transactions are posted to the correct accounts.

 

Also, you can contact our Customer Support Team. They have tools that can help you assign your transactions and provide other details on how to correct your accounts for the new financial year.

 

To reach them, follow the steps below:

 

  1. Go to the Help (?) menu in your QuickBooks Online (QBO).
  2. In QB Assistant, enter the topic you need help with.
  3. Click Contact Us to connect with a live support agent.
  4. Choose either Start a chat or Call us

 

Please ensure to check their support hours to know when agents are available. 

 

I'll also add these resources once you successfully convert your data and how it looks in QuickBooks Online:

 

 

Don't hesitate to get back to me if you need anything else. I'll be more than happy to assist you once again. Take care.

Simon H
Level 2

Assigning a transaction to a particular debtor / creditor type account

Thanks for your reply,

 

Been in touch with the 3rd party migration support people. Their response was it was a documented "limitation",  it is what it is and the user has to deal with any shortcomings!

 

 Has session with QB "expert", and after half an hour of screen sharing was told to talk to my accountant!

 

Having checked back on my QB 2016 Pro system, I found that when entering Bills or invoices, there is a box at the top of the window where you can enter which A/P or A/R account you want the transaction to be applied.. Where is this in QB Online Plus?

 

JamesAndrewM
Moderator

Assigning a transaction to a particular debtor / creditor type account

I'd be delighted to walk you through the steps in QuickBooks Online that allow you to specify which A/P or A/R account you want the transaction applied to, @Simon H

 

In QuickBooks Online (QBO), the Category detail is an entity from your chart of accounts. The same is true in QBDT; you can use the category detail to ensure that new transactions are properly assigned beginning with the new fiscal year. Here's where you can find it:

 

  1. Go to + New and select Bill under Vendors.
  2. On the Category details table, choose the dropdown arrow under the category and click on the specific account. Whether A/P or A/R account.
  3. Save or Save and close.

 

 

You can visit this article to learn ways to customize your reports: Common custom reports in QuickBooks Online.

 

If you have any further concerns relating to QuickBooks, don't hesitate to post them here. Have a great day!

Simon H
Level 2

Assigning a transaction to a particular debtor / creditor type account

Thanks  JamesAndrewM for your response and sorry for the delayed acknowledgment.

 

Your solution doesn't seem to work for me... EG:

 

I receive a bill for printer paper. I want to assign the bill to the "Office:Consumables" account. I use the Category dropdown box to assign that account. When I save the bill, it appears under the "Office:Consumables" account AND the "Grants Payable" account where I want it to show under the "Accounts Payable" account. 

 

As I mentioned, under QBDT there was a separate dropdown box to specify the A/P or A/R account. Is there no way achieve this under QBOL?

 

Thanks

 
LieraMarie_A
QuickBooks Team

Assigning a transaction to a particular debtor / creditor type account

Hi there, @Simon H.

 

Allow me to chime in and share some insights about having multiple Accounts Payable (AP) and Account Receivable (AR).

 

In QuickBooks Online (QBO), we're unable to pick a certain AP or AR. Although you can set up multiple payable or receivable accounts, it only uses the default when you enter a bill or an invoice.

 

As a workaround, you can do one of the following to group or divide your open payables or receivables:

 

  • Set up parent and sub-customers to group your open receivables
  • Use location tracking to group payables or receivables

 

For detailed steps, check out this article: Group AR or AP Account Types.

 

Additionally, you can move an amount from one AP/AR account to another AP/AR account by using a clearing account. Follow these steps to set it up:

 

  1.  Go to Accounting on the left-side panel and select Chart of Accounts.
  2. On the Chart of Accounts screen, click New.
  3. Select Bank as the account type, and Cash on hand or in bank as the detail type.
  4. Give your new account a name, such as "Clearing Account."
  5. Leave the opening balance as zero.
  6. Click Save and close.

 

Then, you can follow the instructions in this article on how to use it to transfer an amount: Clearing Account.

 

Please let me know if you have other questions or concerns. I'm always here to help. Have a great day, @Simon H.

Simon H
Level 2

Assigning a transaction to a particular debtor / creditor type account

Hi LieraMarie_A,

 

Thanks for reply. Just to clarify, I only want (or need to) use one AR and one AP account even though QBDT set up multiple accounts for me automatically.  From what I understand of your suggested work around is how to use multiple AR and AP accounts.

 

You say the QBO will only use one default AR or AP accounts. What I want to do is to change the default accounts that QBO or the migration tool assigned incorrectly.

LieraMarie_A
QuickBooks Team

Assigning a transaction to a particular debtor / creditor type account

Thanks for following up on this thread, @Simon H.

 

Yes, a bill or invoice entered into QBO uses the default AR or AP. These were created when you set up your company or those selected during conversion. Changing the defaults is unavailable in QBO.

 

I encourage you to add your vote for this one by sending a feature request in the Feedback section within QuickBooks. Our product development team reviews all the feedback we receive to ensure we’re meeting the needs of our customers.

 

Here's how:

 

  1. Select the Gear icon at the top, then Feedback.
    Capture.JPG
  2. Enter your comments or product suggestions then select Next.
  3. You'll be provided a list of suggested Help articles related to your comment. You can read through them or select Skip and send message.
  4. From the drop-down, choose the appropriate category, then select Send message.

 

You can track feature requests through the QuickBooks Online Feature Requests website.

 

Additionally, if you need to choose a specific AP or AR, you may create a journal entry instead.

 

I'm always here if you have any additional concerns about managing invoices or bills. Thanks again for coming to the Community. Wishing you continued success!

Simon H
Level 2

Assigning a transaction to a particular debtor / creditor type account

Thanks   LieraMarie_,

 

I have raised a feedback request as suggested. 

 

Visited the feedback site but my idea hasn't shown up yet. I checkback later.

 

Hope something can be done.

 

Thanks

 

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