Invoices and Payments charged to wrong account

Welcome aboard to the Community, Kibonbon.

I can help make sure the invoices and payments are credited back to your accounts receivable. Let’s go to the Chart of Accounts and edit the account for each transaction.  The process is a breeze, and I’m here to guide you.

1. Open the correct QBO company and go to the Accounting menu on the left panel to choose Chart of Accounts.
2. From the list, select the Advances to employers and officers account and click the View Register link to see all the transactions.
3. Click on the deposit you’re working on to expand the line.
4. Press the Edit menu to view the transaction details.
5. Then, change the posting account to the right one.
6. Hit Save and close.

Also, open the invoices and check the items. Take note of each one and then go to the Products and Services. From there, review the item setup and make sure it’s assigned to the correct account.

Here's how:

1. Press the Sales menu on the left panel to choose Invoices.
2. Then, look for the entry you’re working on and click the drop-down under the Action column to choose View/Edit.
3. This will open the transaction’s details.
4. Write down the name of the product or goods.
5. Perform the same steps for the remaining items you wish to see.

To check the product’s account:

1. Click the Gear icon at the top and choose Products and Services.
2. Find the item you’re working on and press the Edit link to open the Product/Service information window.
3. Review the accounts associated with the item.
4. If it’s incorrect, change it to the right one.
5. Hit Save and close.

Check out this article for more details: Change the account for a product/service item.

Aside from these steps, let’s run the Audit Log Report to get a clearer picture of your transaction history. From there, you’ll see who made changes to the account.

You can bookmark this article for future reference. It provides an overview of how to resolve when payments are posted to the incorrect customer: How to fix a payment applied to the wrong customer invoice.

We also collated resources that will guide our customers on how to perform any accounting tasks in QBO. Click here to see the breakdown of our self-help articles.

Feel free to comment below if you have any other questions or concerns. I’ll get back to answer them for you.

What do you mean by 

1. Then, change the posting account to the right one.  ?

What do I do next here?

Hello, Kibonbon.

Let me share some insights about invoices and payments posted to the wrong Account Receivable.

Can you share with me how did you transfer your data from your other QuickBooks account? Since QuickBooks will allow you to create multiple A/R accounts. However, changing or transfer the transaction to another A/R account is unavailable because it will automatically be posted to its default account. 

As a workaround, you can delete those invoices and payments transaction. Then, recreate them in your other account. This way it will be posted to the correct A/R account. If you only want the amount to be transferred to the correct account. You can create a journal entry.

Here's how:

1. Click on the + New icon.
2. Select Journal Entry.
3. On the first line, choose the A/R account where you want to debit the amount and enter the name of the customer.
4. On the second line, select the A/R account where you want to credit the amount and enter the name of the customer.

To learn more about the default account, please check out this resource for your reference: Manage default and special accounts.

If you want to fix A/R or A/P balances, feel free to check this guide for the steps:  Resolve A/R or A/P balances on a cash basis Balance Sheet.

Reply to this post if you have further questions about account receivable. I'm always here to help you.

I transferred my data from quickbooks desktop to quickbooks online advance. After that I copied it to quickbooks online simple start account since I already subscribed it for one year.

In the online advanced, my invoices are charged to the correct AR account, but in simple start the invoices are charged to Advances.

Every time I make an invoice it is charged to Advances now unlike before.

Why did it change?

What should I do to correct it?

Thank you for posting here in the Community, @Kibonbon.

I've checked that you've posted the same question twice and my colleague, ChristieAnn has already added an answer. If you haven't been notified of the new response, check this link. 

If you need further assistance, don't hesitate to leave a comment below. I'm always here to help.