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Level 2

Negative Amount in AR Aging Report

How do I clear these negative amounts on the AR Aging Report?  Please see attached.

Solved
Best answer 3 weeks ago

Best Answers
Highlighted
Moderator

Negative Amount in AR Aging Report

Allow me to help you correct your Accounts Receivable, simtreasurer86.

 

The negative balance is from the overpayments or credits. You'll have to check if these are duplicates or not.

 

Then, check if there should be an invoice to apply it to. Create one if needed.

 

Apply the credit to an invoice you already created

  1. Select + New.
  2. Select Receive payment or Receive invoice payment.
  3. Select the customer, then the credit and the invoice.
  4. Select Save and New or Save and Close.

Apply the credit to a new invoice

  1. Select + New.
  2. Select Invoice or Send Invoice.
  3. Create the invoice.
  4. Select + New. Then select Receive payment or Receive invoice payment.
  5. Select the credit and then Save and New or Save and Close.

After doing these, check the A/R Aging Report to see if there are changes.

 

Let me know if you have other questions.

View solution in original post

6 Comments
Highlighted
Level 15

Negative Amount in AR Aging Report

QB breaks the accounting rules, customer credits (which is a liability) are kept in the A/R account.

So any negative amounts you have in A/R should be posted against a customer invoice

Highlighted
Level 2

Negative Amount in AR Aging Report

Thank you, I understand.  My problem is how to correct these transaction.

Highlighted
Moderator

Negative Amount in AR Aging Report

Allow me to help you correct your Accounts Receivable, simtreasurer86.

 

The negative balance is from the overpayments or credits. You'll have to check if these are duplicates or not.

 

Then, check if there should be an invoice to apply it to. Create one if needed.

 

Apply the credit to an invoice you already created

  1. Select + New.
  2. Select Receive payment or Receive invoice payment.
  3. Select the customer, then the credit and the invoice.
  4. Select Save and New or Save and Close.

Apply the credit to a new invoice

  1. Select + New.
  2. Select Invoice or Send Invoice.
  3. Create the invoice.
  4. Select + New. Then select Receive payment or Receive invoice payment.
  5. Select the credit and then Save and New or Save and Close.

After doing these, check the A/R Aging Report to see if there are changes.

 

Let me know if you have other questions.

View solution in original post

Highlighted
Level 2

Negative Amount in AR Aging Report

Thank you for providing the solution.  Appreciate your help

Highlighted
Level 1

Negative Amount in AR Aging Report

my issue is these payments showing a negative in my aging ar report are not in fact credits. they were applied to invoices last winter and zeroed out.  recently checking the ar report i found the negatives as if they were overpayments. that is absolutely not true. I do have the bank linked and not sure if they are duplicating. please advise and help me to stop this from continuing to happen

thank you

Highlighted
Moderator

Negative Amount in AR Aging Report

Thanks for jumping in to this thread, saratoga.

 

An overpayment will cause a negative Accounts Receivable. Since you have your bank linked with QuickBooks Online (QBO), let's make sure to match the transaction instead of adding them to avoid duplicates.

 

Use the Find Match option to display all the possible matched transactions. To do that, follow the steps below:

 

  1. Go to Banking and select the Banking tab.
  2. Click Find other records button.
  3. In the Match Transactions window, put a check mark on the transactions that should match to the downloaded transaction.
  4. If the transaction you want to match is outside the date range displayed, update it. Select the date field to manually change the From and To dates.
  5. Select Save if the total amount of both transactions is the same.
  6. Click Save.

Once done, the transactions will now show under the In QuickBooks tab. This article serves as your complete guide on how to add and match downloaded transactions in QBO: Add and match downloaded banking transactions.

 

You can also have these links about the reconciliation process in QBO:

The Community is always open if you have other questions. I'll be around to help. Have a good one.

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