It’s nice to see you in the Community, useresp.
Let me guide you on how you can collapse the entries you’re referring to and zero out this in QuickBooks Online (QBO).
Since you mentioned that you entered these entries via Journal Entry (JE), you can repeat the following in a reverse manner. This means you can Credit the amount from your bank account and Debit this to the Accounts Payable (A/P) Vendor.
Here’s how you can create a JE:
- Click the + New button in the left navigation menu.
- Select Journal entry.
- Fill out the fields to create your journal entry and ensure you entered the amount correctly both in the Debit and Credit fields.
- Pick Save and new or Save and close.
I also advise you to refer to an accountant if you have one. It guides you further with the process and ensures you enter the information into the correct fields.
Moreover, check out this article to learn more about creating a journal entry.
Feel free to ping me here if you have more questions about managing your transactions. The Community always has your back. Have a good one!
