remove zero balances from accounts receivable report
remove zero amounts from accountsreceivable reports
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09/20/11 12:46pm PDT
Viewed by asker 11/17/11 8:02am PST
Viewed by asker 11/17/11 8:02am PST
4 Replies
Mary1638
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09/20/11 1:12pm PDT
If you show a zero balance on an A/R report it is most likely that you have an open invoice and a matching credit memo or a payment that was applied "on account" rather than to a specific invoice. You have to apply the credit or credit memo to the open invoice to close it.
Go to your customer file, select the customer and set the transaction list to show open invoices. Once you have found which invoice is still open you should be able to locate the credit memo or payment received "on account" and apply it to the invoice.
Mary
09/20/11 1:20pm PDT
These were opening balances that were credited when we merged two companies. I entered general journal opening balances and then credited them. There was not an actual invoice.
09/20/11 1:40pm PDT
As I recall the only time you are supposed to enter opening balances is when starting a new company and all opening balances get closed out into the retained earnings account on a day prior to the start date - so they do not show up on the current year financials.
So, perhaps it has something to do with the way you entered the JE entries and then credited them. Hard to tell without looking at the actual entries and the credits to figure out how to fix it. My guess is that if you started your new file on 1/1/11, you made the entries on 1/1/11 instead of dating them for 12/31/10. But, that is just a guess.
Mary
