AR Account

Check and see if the credit is applied to the invoice.  Sometimes there is a credit that you have to go into and then select the check box to the invoice with the same amount.

If you go into the open invoices and see a positive $109.90 and -$190.90 underneath than this is most like the issue. 

Check and see if the credit is applied to the invoice.  Sometimes there is a credit that you have to go into and then select the check box to the invoice with the same amount.

If you go into the open invoices and see a positive $109.90 and -$109.90 underneath than this is most like the issue.   (Sorry, accidentally did a typo on amounts, they should be same amount)

Thanks for sharing a screenshot of your concern, MFabian. Let's sort out the balance from 2016. We'll work through the necessary measures to resolve this problem, so you can have peace of mind knowing your accounts are accurate and ready for audit.

While I can walk you through the possible technical inputs of clearing this, it would be best to seek advice from your accountant regarding books from past years, as they possess the necessary expertise and resources to provide you with appropriate guidance.

To link the outstanding balance from 2016 with the credit displayed in the AR Summary report, we can delete the invoice created last 2019. However, please note deleting transactions from previous years will affect your balances. I'll share the steps below for your guide: 
 

1. Go to Customers and pick Customer Center.
   
   
   
   
2. Click the client's name.
   
   
   
   
3. Under the Transactions tab, choose Invoices from the SHOW dropdown.
   
   
   
   
4. Locate the 2019 invoice. Right-click and select Edit Transaction.
5. Tap the Delete icon in the upper-right corner.
   
   
   
   
6. Hit OK.

Next, connect the credit to the 2016 sales form. 
 

1. Tap the Customers menu and choose Receive Payments.
2. Select the customer. 
   
   
   
   
3. Locate the 2016 invoice and place a checkmark before it. Then, click Apply Credits.
   
   
   
   
4. Tick the credit ($109.90) with the same amount as the invoice.
5. Press Done.
6. Hit Save & Close.

The methods outlined above are designed to help you align your accounts and fix the discrepancy. If you have other questions about managing invoices or credits in QBDT, please add them below. I stand ready to provide support and offer any additional guidance you may need to successfully navigate these financial procedures.

Thank you for the detailed response! The only issue with doing it this way is that our books were closed by the accountants that far back, and deleting transactions would require me to open the year, making every year going forward out-of-balance with the audited balances.  I've gone through to make sure there are no open invoices to which I can apply the credit, but there are none. I would need a way to fix this in our current FY, which ended 8/31/24. 

It's just strange to me that the balance isn't Zero - one report says -109.90, the other has an outstanding balance of $109.90.  Usually, if there is something like this, it will cancel out and leave me with no balance for the customer. 

Maintaining precise financial records is crucial for any business, MFabian1. I'll ensure to route you with the right support that can help us address this promptly.

It's a good idea to consult your accountant. They can offer you more suitable options and advice on how to move forward without creating any problems with last year's transactions.
 

In addition, you can generate reports that deliver important insights into how your business is performing, including details like revenue and customer satisfaction. These reports will provide essential information that can help you develop marketing strategies, forecast future trends, plan your budget, and make more informed decisions.
 

I'll be on the lookout for your response if you have further questions about managing your A/R or other QuickBooks concerns, and will address them promptly.