Accounts Payable helps the user to maintain the record of bills that the user has overdue in his business. This maintains a record of what amounts you need to pay the vendors. On entering the first bill, Accounts Payable is added to Chart of Accounts. Then, when the bill is paid or entered, QuickBooks records the transactions and enters them to Accounts Payable. Small balances get gathered as a result of overpayment and underpayment. Through this blog, we guide our users on how errors happen due to above and How to Adjust Accounts Payable in QuickBooks with Journal Entry.

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If you need to get your books organized by professional accountants dial (844)-888-4666 and talk to QuickBooks Pro Team. Though our blog talks about all the steps on How to Adjust Accounts Payable in QuickBooks with Journal Entry but for newbies, our support system remains available.

Use Journal entry to write off old accounts payable in QuickBooks

When the user makes use of the General Journal Entry, he can correct the vendor balances. We shall be discussing the answer to how do I write off old accounts payable in QuickBooks by clicking on Company and then choosing Make General Journal Entries.

If it is over-payment with the vendor

1.Click on Accounts Payable from Account drop-down.

2.Enter the amount in the Credit option.

3.From the Name column, choose the vendor name.

4.Select the offset account and enter the amount under the Debit column.

If there is the underpayment

1.Choose Accounts Payable from Account drop-down.

2.In the column of Debit, enter the amount.

3.In Name drop-down, select the vendor name.

4.Choose the offset account from the next line and type amount in the Credit column.

5.Hit on Save and Close.

How to Reconcile Accounts Payable in QuickBooks?

Vendor Quick Reports helps the user to cross-check if the unpaid bill displayed is paid or not. The steps listed below will help you to do the verification.

1.Click on the Vendors menu and choose the Vendor Center.2.To verify the bill of the vendor, right-click on the vendor.3.Click on Quick Report.4.Select Date range as All.5.Search the bill that is displayed in the Pay Bills window, that is where you need to double click.
Now that we have clearly listed the steps in which the user can get guidance on How to Adjust Accounts Payable in QuickBooks with Journal Entry. But, as a user if you are overwhelmed at any point in the instructions dial (844)-888-4666 and talk to QuickBooks Pro Advisors.