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deanastraus
Level 1

If showing a - red balance for a client / A/R where all the invoices have been paid by the insurance Co. & the checks have been deposited. How do I bring A/R to zero?

Why is there showing a negative in the Accounts receivable for the client? Nothing else is out of line.

2 Comments 2
Rainflurry
Level 15

If showing a - red balance for a client / A/R where all the invoices have been paid by the insurance Co. & the checks have been deposited. How do I bring A/R to zero?

@deanastraus 

 

That indicates there have been more total payments applied to A/R/invoices than the total of A/R/invoices.  Run an 'Invoices and Received Payments' or an 'A/R Aging Detail Report' and see if you can locate why the payment amounts exceed the invoice amounts.  

KiazzymaeC
QuickBooks Team

If showing a - red balance for a client / A/R where all the invoices have been paid by the insurance Co. & the checks have been deposited. How do I bring A/R to zero?

I agree with @Rainflurry that there have been overpayments applied to invoices, Deanastraus. To resolve this, you can either delete the overpayment or apply it to other client's transaction to balance out your Accounts Receivable.

 

Here's how to apply the overpayment:

 

  1. Go to the + New.
  2. Select Receive Payment.
  3. Choose the customer for whom you want to apply the payments.
  4. In the Outstanding Transactions section, check the box for transaction indicating a negative balance in Accounts Receivable.
  5. Enter the correct amount in the Amounts Received field.
  6. Click Record and Close.

 

On the other hand, here's how you can delete an overpayment:

 

  1. Navigate to the Gear icon.
  2. Under the Your Company column, select Charts of Accounts.
  3. Click the View Register of the Accounts Receivable.
  4. Double-click the overpayment entry.
  5. Select on More and then select Delete.
     

Additionally, you can run the Accounts Receivable report to quickly review account transactions and identify any discrepancies.

 

Please feel free to reach out if there's anything we can assist you with. We're always here to help!

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