QB Issue Resolution:
I’d be more than happy to share some information on how to handle the scenario that you have in managing your transactions.
To start, you can create a clearing account that will be used in receiving the invoice payment and paying the Bill. The balance will be paid on the account you’d used in paying the vendor.
To create a clearing account, here’s how:
- Go to Lists menu at the top.
- Select Chart of Accounts.
- Right click anywhere in the Chart of Accounts, then select New.
- In the Add New Account window, select the Bank radio button.
- Click Continue.
- In the Account Name field, enter Clearing Account, Barter Account or Wash Account.
- Do NOT enter an opening balance.
- Click Save & Close.
Next, receive invoice payment using the clearing account created.
Then, upon paying the Bill, use the clearing account.
Once done, pay the Bill for the remaining balance.
For more detailed information about this process, you can read these articles:
For additional reference, you may find these resources in the future helpful:
- Accounts Receivable workflows in QuickBooks Desktop
- Accounts Payable workflows in QuickBooks Desktop
Resolution for Issue 'Accounts Receivable and accounts payable' available: Yes (Solved).
Source: Intuit Community forum.
Accounts Receivable and accounts payable: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Accounts Receivable
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