A/r

[DTS]

What would cause A/R to show negative on the b/s? Are they overpayments of invoices allowing credits to customers or something else?

Thank you,

Dennis

[skhyatt]

Could be overpayments, journal entries to the wrong account, etc.

[DTS]

a/r

From what I've seen on all docs sent to me tonight, I believe it's the journal entries. What a total mess I'm looking at right now and that would be an understatement! Here I go venting once again. Sorry.

As Snags would say, this client and I need to have a "come to Jesus meeting!"

Thanks for your suggestion SK.

Dennis

[Lion]

Negative A/R

I had a client call recently. Uses QB and accepts credit cards. I guess the CC info is downloaded directly into QB. Some of his transactions that were downloaded (not ones he'd entered, according to him anyway) showed negative deposits. Not all the credit card transactions showed negative deposits, but some of them did. We guessed at reversals, but he thought there were too many to be students who changed their minds (music school client) and the negative numbers didn't match up with positive numbers. Don't know what he finally found out or if he solved the mystery yet.

[DTS]

Lion

I will check with them on this. I see no CC sales or merchant fees, but will check this to make sure. They may have them grouped in some other account...maybe equipment!

Thanks. I will check on this.

Dennis

[KJ Judd]

If using QB, a negative in A/R can also appear if the client forgot to apply the payment to an invoice. Then the payment just sits there in limbo. It's not included in sales until applied to an invoice.

[DTS]

Kj

An email just came in to meet on Tuesday and go over their accounts. I will go over this with them. I don't know how they show invoices paid (they do use QB) and last year, this was a big issue. So, you may have nailed this problem for me!

Thank you,

Dennis

[Gretel]

Dennis, Run this report if the negative A/R is on a cash basis balance sheet: Double click A/R - Modify Report - on display tab click Advanced - Select Report Date, click OK - Delete the From date - Click Filters tab - Select Account, and then select All balance sheet accounts - Select option For detail accounts and choose A/R - Still in Filter list select Paid Status and then Open - click OK.

This report should show you 1. A/R transactions posting to other balance sheet accounts, 2. Inventory items on an invoice or credit memo, 3. Unapplied A/R receipts 4. Payments applied to future dated A/R.

Good luck.

[DTS]

Gabriele

I found the problem. It is an overpayment and shows an unused credit to a customer that has not placed another order since receiving this credit.

Thank you for the steps. That was a big help!

Dennis