QB is converting A/P entries: 1) a/p acct converts to a liab. acct (ie. invent. asst) 2)negative balance 3) puts inv. items in the memo line 4) HST in the exp.section

Discovered when we tried to pay a vendor.  Could not select the bill.  When we open the bill, we made this discovery. Mostly with bills with inventoried items.  Some are service bills (no inventory).    

See the attached.  The vendor name and reference number disappears as well.

Causing a BIG problem with our financials.  Please advise.

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Answer

Inventory Asset is an Asset account, not a Liability account.

You did not show your Chart of Accounts or tell us which QB year this is. I see this is asked from a W8 system.

I have seen things like this when someone tries to run an old QB program on W8 or higher. For instance, QB 2014 often shows things backwards.

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