Banking Question...
QuickBooks Canada : Pro 2012How do I record several AP and AR transaction under one banking transaction. I have a client who is both and vendor and a customer. I received payment that has both AR (payment) and AP (debit) amounts
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c8xTESu00r4yUOacwZ5xHE
02/09/12 10:41am PST
Viewed by asker 02/10/12 10:38am PST
Viewed by asker 02/10/12 10:38am PST
2 Replies
smudgeid
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Allstar
Advisory council of community power users.
02/09/12 6:22pm PST
You can't do it in one transaction.
I think I'd take the entire amount being paid (before the vendor debit) & apply it to the appropriate invoices (payment). Then, when I did the bank deposit, I'd select that payment & add a line for the A/P GL using the vendor name. The amount would be (negative) whatever was being credited to a/p. Your deposit total should now match your bank transaction amount.
Then I'd go to pay bills, checkmark the bills being paid & apply the credit that was created by the bank deposit.
Kate
Fiscal Year Inc.
02/10/12 10:38am PST
Latest post
Thanks Kate;
My acct told me to just enter the debits and credits as separate transactions. In the end, the amounts will reconcile, which they do.
However, since I do online banking, the downloaded transaction won't match. Now, I'm left with a number of unmatched transactions that I can't delete...any ideas?
Your solution sounds better...think I'll do that from now on...
Thanks
Jerry
