OK, I get what you're saying. This is my "Normal" process when my husband orders inventory. I put in the PO, wait for the items to arrive, receive the inventory and then add the bill. When the charge shows on the CC, I then mark the invoice paid. But because this happened last year, I'm making it more difficult that it needs to be, right?
So to make sure I understand what I need to do to fix this issue is what you said at the beginning. Get the original PO and zero out the items on that PO, then re-enter. These items were adding to items already in stock. For example, we had only one xyz candybar in stock, this order was adding four of xyz candybars so we didn't run out. Now we have five; what you're saying to do is to change the beginning entry back to one candybar, add the PO, receive the product, enter a bill, then pay that bill with the CC using the date it hit on the CC statement. This makes perfect sense to me and shows an audit trail. How will this affect the YE closing that QB automatically does and has already done? Also, when all is said and done, if done correctly, the inventory valuation should still be the same amount. I'm not really changing anything, just making the correct entry and NOT using a JE. I know this is a long response, but I just need to know that I understand it so I don't have to keep making corrections. It's been 13 years since I've done any accounting (raising kids and taking care of a parent), and I'm realizing how much knowledge I've lost. Thanks for your patience and help.
