Thanks for posting in the Community space, @VTSTOC.
I'd be glad to share information on clearing old Accounts Receivable. To start, let's create a general journal entry to write off your accounts receivable.
Here's how:
- Go to the Company menu.
- Select Make General Journal Entries.
- In the Make General Journal Entries window, change the date and fill in the entry number if necessary.
- Go to the Account field. then choose Accounts Receivable.
- Enter the amount under Debit column.
- Choose a Customer Name from the drop-down list.
- In the next line, select the offset account.
Once done, let's apply the General Journal Entry to the Existing Credit.
- Click the Customers menu
- Choose Receive Payments.
- Enter the name of the customer in Received From field.
- Click the invoice and choose Discounts & Credits.
- Under the Credits tab, choose the available credit.
- Click Done.
- Hit Save & Close.
For more detailed steps, please click this article: Write off customer and vendor balances.
Upon sharing this, I still suggest consulting an accountant to help and guide on how to record this. He/She can provide more expert advice in dealing with this concern.
Should you need to run some reports in QuickBooks Desktop, feel free to check out this article: Understand reports.
You can always add another reply below or post another question if you need anything else and I'll get back to you. Take good care.