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Level 1

Variance between balance sheet A/P and A/P aging summary

I have a vendor showing an open amount however in the transaction list you can see all of the bills have been paid.  My balance sheet A/P and A/P aging report are off by the balance showing for this vendor.  

Any ideas how to solve this issue?

I have a similar issue with bill.com payment coming in and out of my clearing account.

 

Thank you, 

3 Comments
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Anonymous
Not applicable

Variance between balance sheet A/P and A/P aging summary

A difference between Balance sheet and subledger detail for either an AR or AP account can come from several things - in this case my guess is that there's an entry made which accidentally has a future date - probably the bill payment.
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Level 1

Variance between balance sheet A/P and A/P aging summary

All of the bills and payments are dated prior to the report dates.  Unless there is something I'm not aware of.  How would I look for bill a date in the future....run a A/P report?

 

Thank you,

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QuickBooks Team

Variance between balance sheet A/P and A/P aging summary

Hi there, @jntk.

 

Thanks for reaching out to us. I can help correct your Balance Sheet and A/P Aging reports.

 

If you're having problems with your Balance Sheet, there are several easy troubleshooting steps you can take to resolve common Balance Sheet issues.

  • Remove deleted items on the Balance Sheet.
  • Balance Sheet carries a beginning balance and is a cumulative report. When you compare these reports, you must specify the correct Aging Method on the A/P Aging Report.
  • If you're running a Balance Sheet for any date in the past, you must select "Report Date" for the Aging Method on your A/P Aging report for the Total Accounts Payable to match on both the Balance Sheet and A/P Aging reports.

On the other hand, to look for a bill dated in the future, you may try running the Transaction List by Vendor.

 

Here's how:

  1. Go to the Reports menu.
  2. Select Vendors and Payables.
  3. Select Transaction List by Vendor.
  4. Set the date range you'll want to show on the report.

For future reference, you may watch this video on how to pull up reports in QuickBooks for Mac: https://www.youtube.com/watch?time_continue=39&v=I5DKWZdbC_Q.

 

This should provide you information on the variance you're getting between Balance Sheet and A/P Aging Summary reports. Let me know how things go and if there's anything else you need from me. I'm always here to help in any way I can. Have a great rest of your day!

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