Hello,
I have a new-ish client with a 12+ page A/R aging report. Their books were converted from another software months ago and they have two customer accounts - the one the customer gets billed through and the one that kept track of their retainer amount. The issue is that there are a substantial amount of credit memos created under the retainer account customer creating the large A/R report with negative balances.
How would you go about cleaning up all of the credit memos? I do not want to delete them since we do need the retainer balance from somewhere and they can be very old (I've seen older than 2013) but I need to get rid of the negative balances under each customer so that only the true A/R balances are showing so that the aging report can be useful again. I have tried to journal entry them away and posting a $0 payment but it caused a massive negative million dollar plus balance under the Unapplied Cash Payment Income account. I also tried creating a dummy invoice to absorb the credit and the customer still ended up on the Unapplied Cash Payment Income account. I'm super lost at this point and only have 2 months worth of experience using QB at this point so any help will be appreciated!
Thank you!
