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How can I remove old unpaid BILL from a prior year and adjust the current year income.
I have 2 old unpaid Bills from the prior year, but they are now canceled because the products are not being delivered. I am on an accrual basis so they were written off as expense last year. So, how do I delete the old bills and enter them as income this year? I'm using quickbooks desktop 2018.
Thanks in advance for your help.
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You do not delete them since they are part of the years financial reports and income tax filing.
Enter a vendor credit and use Other Income as the account for the credit, then in pay bills apply the credit to the vendor bill
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Huh. So simple yet, makes sense in so many ways. Thanks a bunch for the help.