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Cristina26
Level 1

Trade creditors

The trade credits on B/S are incorrect. We have 3 currencies, sterling, dollars and  euros. I create 3 dummy suppliers accounts to correct the B/S. I had to enter credits on dollar, euros and bill on sterling to balance the trade creditors. 

How can I clear the creditors account without double counting. I have inherited this problem when I start my new job.

Has anyone experience this? and can help me please.

Thanks you 

Cristina

3 REPLIES 3
GeorgiaC
QuickBooks Team

Trade creditors

Hi Cristina, thanks for joining the QB Community - are you looking to write off bad debt from supplier bills that will not be paid, and is the business operating on a cash or an accrual basis? 

Cristina26
Level 1

Trade creditors

Hi Georgia, The business operations on accrual basis.

The bill already been paid and the money for the credits have been received. This transactions was done on the ledgers to balance my trade creditors on the balance sheet. I would like to right off the balance from the supplier ledger. Thanks 

 

GeorgiaC
QuickBooks Team

Trade creditors

Thanks Cristina26, we've got a guide here which provides a step-by-step on how to write off supplier balances - this should help to clear the creditors account. :)

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