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Buy nowI have Quickbooks Desktop Pro 2021. I have an issue, where the Accounts Payable has a negative balance and my Miscellaneous Payable has a positive balance. This started with a credit card reconciliation problem back in July of 2022, where the reconciliation was correct, I went to pay the credit card, it showed the correct amount to pay, and when the actual check printed, it was for $1,100.00 less that what I owe.
I owe nothing at this time, in either accounts payable or miscellaneous, so would like to clear these accounts to be correct. I am not able to do a journal entry, as it wants me to place a vendor in to clear it. I have contacted Quickbooks, but they won't help me solve the issue, because I don't have a yearly subscription in place, and don't have authority to upgrade the product at this time.
Does anyone have any ideas how to clear this our?
Thank you,
Doris
I know how much you want to resolve and balance your payable accounts, @Doris78.
I appreciate the details you've shared to book these records accurately. The company may have paid more than the expected amount. For this reason, this shows a credit balance to your Accounts Payable (AP). It can be a vendor refund or a vendor credit.
You may need to enter transactions manually to offset these credits to match them with your credit card and other bank account statement dated July 2022 onwards. If your vendor owes you money, you might want to record a vendor refund in QuickBooks Desktop. Additionally, you can void bill payment checks if you didn't send them to your vendor.
On the other hand, you're correct that we can resolve this by creating a journal entry that needs to be placed by a vendor. You may consider adding a dummy vendor profile to get this fixed.
However, if you prefer not to use a dummy vendor profile, I recommend consulting an accountant for expert advice since they know how to manage and account for complex transactions. This way, the AP and Miscellaneous Payable will be balanced. If you don't have one, we have certified CPAs here in QuickBooks.
I'm adding these articles for more details to avoid these accounting issues moving forward:
Please let me know if you have other concerns with record-keeping transactions. I'm always here to extend a hand. Have a great Friday!
I did not overpay. Quickbooks underpaid on the check as I said in my first note. Then it created a payable for $3,388.81, which I did not owe. I was on the phone for 3 hours with quickbooks today, and we cleared the accounts payable and the miscellaneous payables, but now when I went to pay the one check I had to pay, I see there is a bill for $3,388.31 to Chase again. I don't know how to get rid of it, as it doesn't show in my checks. If i go to print this bill, I get the following message - " A Check will not be created for this bill because it will be paid entirely with credits and/or discounts." Now what??
It's good to have you back in this thread, @Doris78.
Let me help you get rid of the $3,388.31 bill from Chase and the error message whenever you try to print your bill. We'll need first to point out whose vendor is it that owns the bill to verify if the bill showing as unpaid is actually paid,
Before that, use Vendor QuickReports by going to:
If the bill was paid, select History to view the details of how it was paid. If not, this might be the reason why there's still a bill of $3,388.31 and an error. With that in mind, you can proceed with the solution below.
First, we'll need to open the check you created and change the Expense account to Accounts Payable.
Next is to check and apply the available credits that came from unapplied bill credit, payment, or journal entry to Accounts Payable to get rid of your issue.
Here's how:
For future use, if there are transactions you already reconciled show up unreconciled, feel free to read this article: Reconcile previously deleted and re-entered checking or credit card transactions.
Click the Reply button below if you have additional questions about managing your transactions. I'll be happy to help. Keep safe and enjoy the rest of the week!
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