Clearing old Vendor invoices

Frieaza · ‎April 03, 2024

Hello,

Old vendor invoices

Hello,

I have four unpaid invoices from february 2024 on accrual basis. The vendor said that I don't owe him anything. How do I clear the four invoices?

Thanks

Rainflurry · ‎April 03, 2024

@Frieaza

If Feb. is closed, create a vendor credit for each invoice and enter the same Category/Item details on the vendor credit that are on the invoices. Then, apply the vendor credits to the invoices. If Feb. isn't closed (or you're a small business that doesn't have a formal close), you can delete the invoices. If you create vendor credits and apply them, your P&L will show the expenses in Feb. and a reduction in those expenses in Apr. If you delete them, the expenses on Feb.'s P&L will be reduced.

View solution in original post

Nicole_N · ‎April 03, 2024

I can see that it's a duplicate post, @Frieaza.

My colleague, RCV, shared some information about your concern on how to clear unpaid invoices in QuickBooks Desktop. You can reply to her through this link or add some follow-up questions so we'll be able to assist you further: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/re-old-vendor-invoices/01/1...

The QuickBooks Community team is always here to provide the help you need. Have a good day!

Rainflurry · ‎April 03, 2024

@Frieaza

If Feb. is closed, create a vendor credit for each invoice and enter the same Category/Item details on the vendor credit that are on the invoices. Then, apply the vendor credits to the invoices. If Feb. isn't closed (or you're a small business that doesn't have a formal close), you can delete the invoices. If you create vendor credits and apply them, your P&L will show the expenses in Feb. and a reduction in those expenses in Apr. If you delete them, the expenses on Feb.'s P&L will be reduced.

Frieaza · ‎April 03, 2024

February 2024 is already closed. so I created a vendor credit for each invoice and applied it to the invoices. the total came up to 2,580.7. When I run the P&L for March 2024, the expense account used for the invoices in Feb will show -2,580.7. Is that right?

Thanks

Rainflurry · ‎April 03, 2024

@Frieaza

If the vendor credit(s) is dated March then, yes, that's correct.

Frieaza · ‎April 03, 2024

Can I create the vendor credit using February date?

Thanks

Topics

Training

Community

Resources

Clearing old Vendor invoices

Old vendor invoices