In the vendor center for a particular vendor, when showing all transactions, some transactions show an open balance that is not part of the actual vendor balance shown in the list of vendors.
If I select to show open balance rather than all transactions, the transactions are not listed and the open balance does match the vendor list on the left.
Some (not all) of the transactions are deposits for funds received from vendor. Deposits do not normally show up in the vendor transaction list, and I am not sure why these particular ones do.
The transaction has been applied/offset by other transactions and it does not appear in pay bills, either as a bill or an available credit.
I do not believe this is actually causing any problem in balances, but I do use the open balance column in the vendor center to monitor open vendor transactions, and it is confusing to see an open balance that is not truly open.
I have verified data and my file reports no problems.
Any way to clear the reported open balance in the vendor center?
Verify data is a good way to identify errors, FlyOverLand.
Let's troubleshoot next using the QuickBooks File Doctor. Here's how:
The scan time depends on your file size. In most cases, it can take up to 5 minutes. Once the scan finishes, open QuickBooks and your company file. The scan may say it was unsuccessful even if it fixes your issue.
Check this article to learn more: Fix company file and network issues with QuickBooks File Doctor.
I'll be here if you have other questions.
I finally got a chance to do that and it did not change anything.
The File Doctor reported no problems, and left the transactions unchanged.
One thing I neglected to mention earlier is that the confusing transactions showing an open balance have a blank aging days, which is somewhat helpful in recognizing them, but I'd still prefer not to see an open balance that does not need any action.
Thanks for the suggestion.
Thanks for the additional details, @FlyOverLand.
I'll help you get rid of the open vendor balance in QuickBooks Desktop.
Based on your original post, I can see that the open balance doesn't match the vendor list on the left. The usual cause of this incorrect amount is a transaction error. To isolate this, you can run a Vendor Balance Detail report.
Here's how to do it:
If the balance is too high, you may have paid a bill using a check instead of going through the Pay Bills window. To fix this, please refer to bill shows as unpaid after writing a check article at this link.
If the balance is too low, you may have entered the wrong amount in a transaction. You can look for the bill or bill payment in the Vendor Balance Detail report and then edit it.
To learn more about this, please head to this link: Adjust the current balance for a vendor.
Also, QuickBooks Desktop will automatically create a bill for the vendor if you've entered an amount in the Opening Balance field. This can cause balance issues. To remove this, you'll have to open the bill and delete it.
Lastly, you can pull up other vendor-related reports to know and settle your payables. To achieve this, navigate through the Reports menu. Then, select one from the Vendors & Payables section.
I'm still up and running if you need help with handling vendor transactions or anything else related to QuickBooks. Take care!
Thanks for the suggestion.
But, my balance is not really incorrect. As I noted in my original post, if I select SHOW 'Balance Details' the troublesome transactions are not listed and the total 'OPEN BALANCE' for the transactions matches 'BALANCE TOTAL' in the vendor list.
If I select SHOW 'All Transactions', then the transactions without a 'AGING' days show up and the sum of 'OPEN BALANCE' transactions exceeds the 'BALANCE TOTAL by those transactions in the list.
Maybe these attachments will help to illustrate.
Any other ideas?
Thanks for the quick reply, @FlyOverLand.
I appreciate you for attaching a screenshot and following the steps presented above. I'll point you in the right direction so your transaction list will resolve as soon as possible.
Our Technical Support has the proper tools to examine your list and investigate the root cause of the problem. They can also create an investigation case and send it to our engineers to further review if needed.
Please ensure to call them within business hours to guarantee we cater to your concern punctually.
I've also attached pages that might help in writing off balances, customizing vendor reports, and other topics.
Please don't hesitate to let me know how the call goes and if you have other concerns. Keep safe!