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Negative Amount in AR Aging Report

Forum|Forum|5 years ago
November 5, 2020
2 replies
6 views

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

QuickBooks Online

Best answer by MaryLurleenM

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

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

Apply the credit to a new invoice

Select + New.
Select Invoice or Send Invoice.
Create the invoice.
Select + New. Then select Receive payment or Receive invoice payment.
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.

Rustler

Level 15

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

S

simtreasurer86Author

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

MaryLurleenMAnswer

Level 6

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

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

Apply the credit to a new invoice

Select + New.
Select Invoice or Send Invoice.
Create the invoice.
Select + New. Then select Receive payment or Receive invoice payment.
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.

J

jijuvera

I'm working with a client that goes through a bonding company to be able to do big projects. They are wanting an accrual Profit and Loss that includes Accounts Receivables but I've tried to reflect different ways and it still doesn't show up on the report.

Angelyn_T

Moderator

I appreciate you for joining the thread, @jijuvera. Let me share with you some insights about the Profit and Loss report and how you can get the details of your client's Accounts Receivable (AR) entries.

The P&L report displays all of the income and expense transactions recorded in QuickBooks. Thus, adding AR transactions isn't possible. The good news is, you can use the Balance Sheet report to get the information you need.

Here's how:

Sign in to your QuickBooks Online (QBO) account.
Click on Reports at the left pane, then look for Balance Sheet or Balance Sheet Detail.
Open the report, the go to the Customize button to get the customization you need.

For more tips while running these reports, you can open these articles:

Just in case you want to save your reports for future use, you can mail, print, or export them to Excel. You can check out this link as your guide: Run reports in QuickBooks Online. From there, go to the Print reports, Email reports, and Export reports sections.

If you have any other follow-up questions while running QuickBooks reports, let me know by adding a comment below. I'll get back to you as soon as I can help you again. Keep safe!

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