How Does Using More Than One Accounts Payable Account In Quickbooks Affect The Check Register
If you have a negative Accounts Payable account in your QuickBooks Online visitor, then it can be for several reasons.
We'll go over some of the almost common reasons you may have a negative accounts payable business relationship in QuickBooks Online.
The original beak was deleted
If you lot (or someone else) deleted the original nib after y'all've paid information technology, so you'll have a negative balance. That's because the platform sees a payment with no associated bill.
One way to set this issue is to look at your list of vendors under Expenses > Vendors. Look for the vendor that you paid or for a vendor with an open balance. Create the bill. And so edit the payment to link the payment to the bill you lot but created. QuickBooks Online should show yous any Bills that can be linked.
Y'all paid an corporeality that is more than the beak
Sometimes y'all'll make a mistake and enter a payment corporeality for more the Neb. If you fabricated a error past entering the wrong numbers, then simply edit the Beak Payment and right your mistake.
Negative Accounts Payable Business relationship using Vendor Credits and Deposits
On a related notation, you may see a negative balance in your AP account if you have unlinked Vendor Credits and Deposits.
If y'all are manually creating documents for Amazon transactions in QuickBooks Online, then you may encounter unlinked Vendor Credits and Deposits if you don't manually link the two documents.
Hither'south a common scenario if you're using Amazon (hither shown as A Vendor):
Yous create a Vendor Credit for a reimbursement from A Vendor because of a lost warehouse adjustment. The Vendor Credit is for $i,000. A Vendor now has a $thou open residual.
Then y'all create a Deposit into the Undeposited Funds business relationship for $1,000 from A Vendor to match the amount. But these two transactions aren't linked, so they announced to exist two unrelated transactions.
Equally a result, you lot'll run into an Open up Remainder for $1,000 under A Vendor and a separate $1,000 paid on your Accounts Payable annals.
To set this, simply go to Expenses > Vendor. Click on the "Open Bills" button and find A Vendor. You should see an Open Residual. Click on "Make payment" to accept QuickBooks Online link the deposits and credits. Your total amount paid volition be $0.00 since all credits and deposits should match upwardly.
If they don't match upwardly, you should make sure that you entered the correct values for the Vendor Credit and/or the Deposit. Make sure y'all've also entered the related transactions (the credit and the deposit).
Select the proper account. This is usually the Undeposited Funds account you're using for Amazon.
Save the Pecker Payment and your Accounts Payable business relationship should reverberate the proper amounts after.
Once the transactions are linked in QuickBooks Online with the Bill Payment, then your Accounts Payable account should be fixed.
Check out these other articles related to QuickBooks Online:
- Update Historical Transactions with Inventory account changes
- Employ Avant-garde Search to see transaction types
- Learn how to properly refund sales tax in QuickBooks Online
Source: https://sellerzen.com/negative-accounts-payable-quickbooks-online
Posted by: daltonalayeaker.blogspot.com
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