Learn to resolve A/R or A/P balances on Cash Basis Balance Sheet with QuickBooks Payroll Support

 Before discussing on this topic, you must first know about account receivable and account payable. If you know about balance issue then you have already heard about account receivable and account payable.

In this post you will learn various things like to create a journal entry for account receivable and account payable.

We will first discuss to know about How to Create a Journal Entry for Account Receivable

If you want to create a journal entry for account receivable balance, then go through the instructions specified below:
• Click on New

• Click on Journal Entry

• Choose the Journal Date

• Journal Date can be defined as the date of end of time period

• Click on the expense or liability account in Account column

• Type the amount in Credit column

• Type the journal entry in memo field

• Click on Account payable from Accounts drop down menu

• Click on Vendor in Name column

• Click on Save and Close

Now, you are able to create journal entry. You can also contact QuickBooks Payroll Support instantly.

How to apply the journal entry in reverse

When you have created journal entry in account receivable and account payable, you must set it to reverse:

• Click on Search icon on tool bar menu

• Search for the journal entry you created

• Click to open it

• Modify the Journal Date after the Journal Entry’s date

• Click on Save and Close.

How will you find Unapplied Payments?

To search for unapplied payments, review the Customer Balance Detail or Vendor Balance Detail report:\

• In the Left menu, click on reports

• Search for the Customer Balance Detail

• Display the report to name any unapplied payments

If you are thinking to apply payments in Account receivable, then follow the onscreen instructions:

• In the Menu of QuickBooks, click on Sales.

• On the All Sales tab, choose Filter.

• Click on Money received on the Type drop-down menu.

• Choose any name of customer from the list given.

• Click on Apply.

• Search and choose the unapplied payment to open the Receive Payment window.

• In the Outstanding Transactions tab, choose the payments of those invoices where it is need to be applied.

• Click on Save and close.

If you are able to apply the payments successfully, then you can go for some other option else you can contact QuickBooks Payroll Support. And if you are thinking to apply the payments in Account payable

• Click on Expenses on the left side of menu

• On the Expense Transaction page, click on Filter

• Click on Recently Paid in Type drop down menu

• Click on Apply

• Choose the bill which is unapplied to open the Bill Payment Window

• In the Add to Payment tab, click on Add for bills

• Click on Save and Close

By this you can easily apply the payment to account payable. If not then immediately dial QuickBooks Payroll Support number to acknowledge your request. For free guidance on any insight errors of QuickBooks you can instantly dial our toll free number @ 1-800-731-1629 and drop us a mail at support@qbooks247.com. Our executives will respond instantly for all of your issues or errors. They are active 24*7 to assist everybody all-round the globe.