Should I need to make a breakdown of the Account Payable balance of all suppliers since we just started to use QBO this calendar year 2024?

Yes, you can break down the Account's Payable balance for your suppliers, spfcaguilar. I'll share insights about this and help you from there.

Breaking down the accounts payable balance in your Balance Sheet will help you identify the included suppliers and see who you owe money to and for what purposes. With this, you can run the Balance Sheet report as it will show the balances of your supplier.

Here's how:

1. Go to the Reports menu.
2. Locate and open the Balance Sheet report.
3. Select the amount listed for the Accounts Payable (A/P) account to open Transaction Report for that account.
4. Tap Customise.
5. In the Customise report panel, select the Rows/Columns item to open the section.
6. From the Group by dropdown list, choose Supplier for accounts payable.
7. Click Run report.

Then, you can use the information in the report to identify the balances and decide what action is necessary to take. For more details on how to run the report, you can open this article: Run a Balance Sheet report in QuickBooks Online.

Also, I'll be sharing these resources that will guide you in resolving any issue that affects your balance sheet account and creating supplier transactions in QuickBooks:

• Resolve accounts receivable or accounts payable balances on a cash basis balance sheet in QuickBooks...
• Learn the difference between bills, cheques, and expenses in QuickBooks Online

If you need further assistance with your AP balance or while working in QuickBooks, let me know by posting a comment below. I’ll get back to help and make sure you’re taken care of. Have a great rest of the day.