Accounts Receivable discrepancy

Hello, Janet. 

Yes, I agree that the Balance Sheet should show zero after processing the invoice payment. There could be a couple of reasons why this is happening, and I'll help you fix this with these solutions. 

First, it could be a duplicate transaction that affects the Balance Sheet report. You can drill it down by clicking the -131 amount. This shows the transactions booked under the balances. If it's a duplicate, you'll want to simply delete it from your books (you might want to review this first). 

Another way to review and check for duplicates is to run the Transaction List by Customer. Here's how: 

1. Go to Reports, then hover your mouse on Customers & Receivables. 
2. Choose Transaction List by Customer.
3. Review the listed transaction and check for the -131 amount (it could be listed under a different customer).
4. Open the transaction, then click the Delete button. 

The second reason is that the link between the payment and the invoice is damaged. In this case, you'll want to delete the payment and recreate it. Simply open the payment transaction, then click the Delete button. 

A data integrity issue could also be the reason why there's a discrepancy on your Balance Sheet report. In this case, you'll want to run the Verify and Rebuild tools. Check this article for the steps and details how: Fix data damage on your QuickBooks Desktop company file.

After fixing the discrepancy, you can start managing your bank transactions or do your regular reconciliation process. You can check these pages and look for an article of your choice: 

• Add, match and manage your bank transactions in QuickBooks
• Reconcile your bank account with QuickBooks

Need help with something else in QuickBooks Desktop? Please let me know and I'll be happy to show you a thing or two on how to achieve it.