I need to make an entry to adjust the accounts receivable general ledger account but I need to be able to do it without choosing a customer name.
Misc $40.72 Debit
Accounts Receivable $40.72 Credit
It's no specific customer, the gl doesn't match the A/R Summary Report and I just need to adjust to balance.
Every entry using an AR account must use a customer name. This way, the sum of the customer balances is the same as the AR account balance.
I'd expect a report that includes all customers and their balances to be the same as the AR balance, at least if dated after the last AR account. Still, the report isn't specially designed/implemented to match the AR account balance. When it doesn't, it might mean there is something amiss, but not something that a Journal can fix.
If you Verify your company (File | Utilities | Verify) does it come out clean? If so, then the AR account balance (all account balances, really) agree with the data recorded in them.
Actually, that is not correct. When something goes "amiss", a journal entry absolutely can fix it. Also, sometimes QB throws an error in there and will double post a discount entry which makes the GL balance not agree to the AR Summary Report. Every accounting system I have ever worked with has allowed and entry to the Accounts Receivable General Ledger account to reconcile that account with the AR Summary Report.
There was a glitch in the software, I guess, from the person previously in my position, that was not corrected and left to accumulate for several years. The difference is $40.72, which is not worth the time to go back through the entire AR account or AR Summary Report to try and locate, therefore, a journal entry would absolutely correct it.
I verified company data. There was an error in payroll, which would not effect the AR Summary Report or the AR General Ledger Account.
From your initial question, it seems you want to credit / reduce the AR balance to match the AR report. I'm guessing the report you're referring to is the "A/R Aging Summary".
That report is filtered on several things. If you remove the Open status, the Customer:Job, and the date filters from the report, leaving only the account filter, then does the report total match the account balance?
I have a similar predicament. I want to move the total in A/R to another Receivables account in order to make the year-end Balance Sheet more specific. I tried to make a journal entry but like the other "caller" do not have a specific name. thanks
Hello there, @newyorktutor. I want to ensure you'll be able to record the journal entry correctly in QuickBooks Desktop (QBDT).
To ensure that you'll be able to transfer the total of one Accounts Receivable account to another by making a journal entry without any problem, I highly recommend consulting with your accountant. This is to ensure that you accurately account for the entries and avoid messing up your books. They can also advise you and provide alternative methods for entering the transaction that do not have specific names.
If you're not affiliated with one, you can use our Find an Accountant tool to look for an accounting professional in your area. To do so, simply enter your City or Zip code.
When you're ready, use this article as a guide to enter journal entry transactions: Create a journal entry in QuickBooks Desktop for Windows or Mac.
I've also added this resource to help you keep track of your customers' transactions as well as your accounts receivable: Get started with customer transaction workflows in QuickBooks Desktop.
I'm always here to provide further assistance if you have any other questions about recording a journal entry in QBDT. Please don't hesitate to leave a reply below. Have a good day ahead and stay safe.