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Join nowThe negative open balances (resulting from refunds issued) indicate to me that the refund was either:
If 2 then you start the 'receive payments' function for each customer, look for unpaid invoices, then mark them for payment and 'apply credits' to link and close the open items.
If 1 then ideally you would find and open the refund cheques - add the customer name into the name field - save the change then repeat step 2 above.
Both these options assume the refund cheque was coded to AR.
If the refunds were coded to some type of expense then its a different situation with different solution.
Thank you, Mike. That was very helpful. What about anyone customer with a negative open balance as a result of over payment? Like someone was supposed to pay $300 but ended up paying $450 and it would show there is an open balance of -$150..
How do we get rid of that balance in AR?
Thanks
Hey there, @humptydumpty.
A negative balance on your customer account denotes that there's a credit owed to them. I'd be happy to add more details about this and help you further.
When your customer overpays an invoice, it'll automatically show a negative balance. To remove this, you have the option to create a credit memo and apply it to their next invoice. Or you can issue them a refund receipt.
To create a credit memo, you can follow the steps below:
Once done, you can then apply the credit memo to the next invoice.
To create a refund receipt, kindly follow the steps below:
Please don't hesitate to get back to us if you have any other concerns.
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