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bri13
Level 1

A/R Aging Clean-up

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!

1 Comment 1
HyJohn
Level 4

A/R Aging Clean-up

bri13,

 

Do you still need help on this?  I have some answers.  If needed, please reply to this post or send me a private message and I can walk you through this.  It sounds like a lot of cleanup, but is doable.

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