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Level 1

Accounts recivable (Debtors) Opening credit Balances

We have payments from customers received in advance much before the actual delivery of services. We used Accounts Receivable (Debtors) credit balances as suggested by a tutorial, to bring forward credit balances in customer accounts. Using Accounts Receivable (Debtors) TB account Debit and Accounts Receivable (Debtors) individual accounts in Opening Journal. When we had sales we used cash memo and payment adjusted from Accounts Receivable (Debtors) individual account. It worked fine.When we received payments during the year by way of advances, we used "Receive payment" as the payments are not towards any open invoice.But when we run report on Transaction detail by account only transactions including brought forward balances credit balances are shown in the Accounts Receivable (Debtors) Individual accounts and receipts during the year are shown in Accounts Receivable (Debtors) general account. How to meet this scenario?

1 Comment
QuickBooks Team

Accounts recivable (Debtors) Opening credit Balances

Hi kdurgaprasad,

All credit sales transactions recorded using sales forms including Receive Payment will show up in the Accounts Receivable (Debtors) account by design. There shouldn't be sub accounts under Accounts Receivable. QuickBooks tracks customer information by assigning a Customer name and using it with the Accounts Receivable account.

Please refer to the steps to allocate the imported/total Accounts Receivable balance to individual customers here -

Performing a reassigning will allow all transactions to be reflected in the common Accounts Receivable accounts.

Hope this helps.