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qbo says i have overdue bills that amount to the incorrect figure. in fact it is thousands above what i actually owe. how do i correct this please
We can look for unapplied payments and link them to their corresponding bills, lexico. I'll discuss this matter thoroughly to help keep your book accurate.
In QuickBooks Online (QBO), unapplied payments can cause the amount of your overdue bills to be higher than what you owe. We can locate them by running the Supplier Balance Detail report.
Here's how:
After that, proceed to these steps to apply these payments to the appropriate bills:
For more information on fixing accounts payable balances from suppliers, refer to this article: Resolve accounts receivable or accounts payable balances on a cash basis balance sheet in QuickBooks....
Moreover, reconcile your accounts regularly for precise reporting when tracking your cash flow. It also ensures your entries in QBO match your actual statements.
By following the instructions above, you'll be able to correct the discrepancies in your financial record. Get back to this thread if you have additional questions or other concerns related to QuickBooks Online. We've got your back!
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