How to Fix Negative Accounts Receivable in QuickBooks?
Unapplied payments in QuickBooks are an issue many people face that can affect your financial statement and it will be reflected as negative in the account. Change in credit card and unsaved and updated files for a long time will pop up to save or update account statement and reflect as negative account or customer is over paid.
If you don’t know the right method to adjust QuickBooks liabilities read now How to Adjust QuickBooks Payroll Liabilities. But to fix reconcile accounts receivable in QuickBooks problem you need to read and execute below listed methods and solve negative account issue after following step by step instructions.
Steps to Fix Reconcile Accounts Receivable in QuickBooks:
METHOD1: UNCHECK PAYMENT APPLICATION
Step1: Open customer balance report and select transaction history to select transaction having issue.
Step2: Uncheck next to invoices and save the transaction.
Step3: Close the transaction Repeat all incorrect applied received transactions.
METHOD2: REAPPLY THE PAYMENTS
Step1: Repeat step1 of method1 and apply check box on correct invoices.
Step2: If customer paid less amount then invoice use one of the steps below.
- Click on set a discount button and enter discount as the amount remaining.
- Leave unpaid amount and put check box against invoice being paid under payment column to view QuickBooks unpaid amount by customer.
- Create a credit memo to explain why original invoice is reduced.
Step3: If customer paid higher amount follow below steps.
- Enter new invoice to enter new item for AR adjustments to over paid amount and enter original invoice number and a reason for higher payment. Now click on save the transaction Find both the invoice and check transaction for original invoice as well as over paid invoice and apply customer check to both transactions.
- If invoice is not closed add a new line item in invoice and use new item name AR adjustment. Now in description column enter the reason for higher payment and save.
Call QuickBooks Support Number +1-844-706-6636 to Fix Negative Accounts Receivable Errors
Dial round the clock QuickBooks support number to get instant help to fix over payment and under payment issue to fix negative account issue. To get in touch with certified technicians you need to dial our toll free number +1-844-706-6636 to get instant assistance on various issues faced with QuickBooks.