Accounts Payable balance

Hi there, donskull.

QuickBooks will automatically detect any match transactions already entered in QuickBooks Online. That said, I'd suggest clicking the match option that shows on the banking page. This way, the two transactions will link and apply to the vendor balance. However, this process affects the cash balances because the payments will apply to one of the vendor balances or payable.

Here's how to match transactions:

1. From the left menu, select Banking. Then, the Banking section.
2. Go to the For Review tab.
3. Locate a transaction with one or more possible matches.
4. From the Action column, you can click the Match link or choose View to expand the page. Then, click the Match button.
5. If the possible match is incorrect, choose the transaction to open it. Then, select Find other matches to open the Match transaction window and search for other possible matches.
6. Hit Save.

For additional information, you can click this article: Categorize and match online bank transactions in QuickBooks Online. This also provides steps on how you can add and exclude entries to avoid duplicate.

If you need anything else, just add a comment below. It's always my pleasure to help. Have a great day!

Hello

I don't think this quite solves my issue.  The payments from the bank were downloaded and appear to be matched or linked already.. However, that was not done to the open invoice in AP.

So the bank account has been reduced and the payment put through Quickbooks, but nothing was ever applied to the open invoice / vendor.   

thanks

Hello

This still doesn't help us. They already marked the transactions in prior periods and the money has passed through quickbooks as a payment.  However the vendor invoices were never reduced.  Need a process to apply those payments to correctly reduce the vendor balance and AP. Thanks

Allow me to provide some steps to reduce the vendor and AP balance, donskull.

You can undo those previously matched transactions from the Banking page. It will send the payment back to the For Review tab. Doing this will help that downloaded entries are applied to the correct vendor invoices.

To do this, go to the Categorized tab and locate those matched payments. Then, click Undo under the Action column. After that, apply or match it to open invoices as mentioned by my colleague above.

If you need to reconcile your account after matching transactions, check out these handy articles for more details:

• Reconcile an account in QuickBooks Online
• Get bank statements directly from your bank when you reconcile.

Get back to me if you need additional information. Just tag my name and I'm right here to help.

Hello

I think I have partially solved my issues by going in the expenses under vendor.  Assigning the vendor and changing the account to AP-Current.  This does reduce the AP / Vendor balance as it should. However, I have one item that is labeled a bill not an expense.  I need to know how to change this to an expense so I can reassign it, or remove it and put it back in QB.  It is from a  prior period.

Thanks

#MaryLandT

Hello there, @donskull.

You'll have to delete/remove the bill and create an expense transaction to assign the Accounts Payable (A/P) account on it. Let me guide you through the steps.

Please know that bills are for payable transactions to be paid later, while expenses are for transactions that to be paid on-the-spot.

Since you're trying to change the bill to an expense transaction, you can manually enter it. Here's how:

1. Find and open the bill to delete/remove it in QuickBooks.
2. Once done, click the + New button and select Expense.
3. Select the Payee from the drop-down, then choose the appropriate bank account in the Payment Account drop-down.
4. Choose the specific date of the bill deleted.
5. From the Category section, enter the information needed.
6. Click Save and close.

I'm adding this article for more details: Enter, edit, or delete expenses in QuickBooks Online.

As always, feel free to visit our QuickBooks Community help website if you need tips and related articles in the future.

Please touch base with me here for all of your QuickBooks needs, I'm always happy to help. Have a great day and take care always.