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I have a vendor account that I know should be showing a zero balance. However, there is a balance shwoing, but I have no idea where it is coming from. I have done spreadsheets ad nauseum to figure it out and I can't find it. And I consider myself very good at doing the forensics and finding things.
How do I find this balance and how to I make the balance zero?
Thanks!
Welcome to the QuickBooks Community, @CatDet5627.
Possible reasons are:
You can run the Vendor Balance Detail report to check what transactions make up the current balance with each vendor. Here's how:
To correct or to adjust the balance you can check this article link: https://quickbooks.intuit.com/learn-support/en-us/journal-entries/write-off-customer-and-vendor-bala....
However, before making changes to your transactions, I suggesting consulting an accountant and make sure to create a backup copy of your file.
For more information, you can read through this article: https://quickbooks.intuit.com/learn-support/en-us/customer-statements/how-to-enter-outstanding-balan...
Don't hesitate to post a comment below if you have concerns with QuickBooks. I'm always here to help. Stay safe and take care always.
Vendor Balance Detail shows zero. It is on the Vendor Page and I scroll down to that vendor, it shows a balance.
Thanks for getting back to us, @CatDet5627.
You can filter the transactions from the Vendor Information page to see the balance details of the vendor. Let me guide you through the steps.
To get rid of it, you'll have to open the transaction and make a payment.
Just in case you want to run and customize vendor reports, feel free to check out this article for more guidance: Customize vendor reports.
Please keep in touch if there's anything else I can do to help you succeed with QuickBooks. I've got your back. Have a great day and keep safe.
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