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When I run an Accounts Payable report there are several old entries that I would like to remove because they are unnecessary and make the AR total incorrect.
As an example I have a JE from 12/31/2019
Accounts Payable 1000.00 CR
Inventory 1000.00 DB
This accrued an AP for inventory that we had in stock, but not yet received bills. I realize I should have entered a BILL for this vendor, but I was new to QBO and didn't know.
The bills that actually made up the $1000 have been entered and paid since then.
In Accounts Payable report, this $1000 appears in the ageing and I would like to clear it out.
I could make a reversing JE, but I don't see any way to "apply" that to the original JE.
How can I clear out old JE's like this?
bring up the journal entry on screen, use the more button/link at the bottom and select delete
Rustler, thanks but I am wary of that solution. This was accrued in a prior quarter so when I go back and refer to financial reports they will not match with the originals.
I'm looking for some kind of solution that will not change historic transactions.
Did you ever get an answer to your question? I am in the exact same situation. I need to remove the AP balance as it is no longer outstanding, but I don't want to affect the AJE that I recorded in the prior period because it matches my issued financial statements. Would love to hear any resolution of this issue. Thanks.
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