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QBO Plus conversion issues

I am very new to QBO Plus(and to bookkeeping) so hopefully I can explain this coherently - our company switched from Sage 50 Quantum to QBO Plus this week.  We had a company convert all our information from Sage.  The records were brought over as journal entries(bills, invoices,etc).  There is what appear to be rounding differences.  For example, if a customer paid an invoice for $333.33, the journal entry(which is the credit memo)  would be $333.34.  I'm not sure why this was done like this but I do know that after matching the invoices with their corresponding credits, 80% of my customers has credits for $.01, $.03, etc.  I can't seem to access these credits to get them off of the customer accounts.  There aren't any invoices to offset them with. I followed these directions I found on this site:

Please follow the steps:

  1. From home page screen, click on the plus (+) icon.
  2. Select Check or Expense under Vendors header.
  3. Select the customer from drop down that need refund.
  4. Go to Account under Account details = Accounts Receivable (A/R).
  5. Enter the Amount = refund amount.
  6. Click on Save.

My only problem with this is many of the credits are from the previous year so if I refund the customer, it shows up in my current receivables but I'm not sure if it's ok to use the date the journal entry was made.  Many of them are from 2017 and I don't want to mess up any previous year info.  Is it ok to use the date of the j/e if it was from a previous period?  Sorry this is so long!  Thanks!

Solved
Best answer 11-10-2018

Accepted Solutions
Established Community Backer ***

Re: QBO Plus conversion issues

use this years date

when it is small change like that and you know it is a conversion issue

sell a service item for one cent to that customer and apply the one cent credit and be done with it

 

if the same thing happened with bills, buy a misc expense for one cent and apply the credit

going forward, Journal entries should be the exception when using QB, they often do not work as you think they should, and  when you use inventory type items they never work for inventory. It is much better to use the forms on the home page the way QB is designed to be used.    Journal entries also bypass accrual/cash reporting, and will not show on many reports.

2 Comments
Established Community Backer ***

Re: QBO Plus conversion issues

use this years date

when it is small change like that and you know it is a conversion issue

sell a service item for one cent to that customer and apply the one cent credit and be done with it

 

if the same thing happened with bills, buy a misc expense for one cent and apply the credit

going forward, Journal entries should be the exception when using QB, they often do not work as you think they should, and  when you use inventory type items they never work for inventory. It is much better to use the forms on the home page the way QB is designed to be used.    Journal entries also bypass accrual/cash reporting, and will not show on many reports.

Not applicable

Re: QBO Plus conversion issues

Thank you so much!  I will go through the customers and get them all to the correct balances.  I really  appreciate the help!

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