Somehow in July, I cut a check without entering the bill. Now My Accounts Payable always shows a negative $1,500.00 when it's usually zero at the end of the month. How can I correct it before I process August reports?
I know a way to correct the balance on your Accounts Payable account, @HollyJoy.
To eliminate the negative balance on your A/P account, you'll need to make sure that bills paid by check are recorded accurately.
Here's how you can do it:
Click on +New. Then, select Check.
Choose the Payee / Vendor from the dropdown.
Hit Add to add an open bill to the check.
Choose the account you made the check payment from in the Bank account section.
In the Amount field, type in the check amount.
In the Outstanding Transactions section, select the bills the check payment went to. Tip: If it covers multiple bills, select the checkboxes for those bills. You can split the payment and enter an amount for each bill in the Payment column.
Once done, hit Save and close.
For future reference, you can access these articles. This will help you run and manage reports in QuickBooks Online.
I can't find the "add" button (QB Online). This is a recurring payment and for whatever reason the bill was never processed and doesn't show up in the bills to be paid. Do I have to create a new bill before I connect it to the check?