QB Issue Resolution:

You don’t use Debit-Credit in QB like that. You use the Functions. You bought a program with an “interface” = Tools,

Examples: Deposit is Banking menu > Make Deposit. AP = Vendors menu, to Enter Bills, change them to Credits/Returns, or Pay Bills.

In QB you avoid using JE for AP, AR, anything where Names are also needed; you cannot list Items. This is not a Sale or a Purchase, not for QB inventory, QB payroll, and you just bypassed Cash vs Accrual basis reporting.

Let’s take this a piece at a time:

“Customer buys equipment from us.”

You make an Invoice for it. This is an unpaid sale for $30,000. This assumes this is your regular sales; not your own Fixed Asset?

“Customer sends 10,000 for equipment,”

That is Receive Payment. Apply it to the invoice.

“net of 20,000 we owe customer in a/p.”

That is Barter.

“A journal would look likes this” <== never do this

You need to make a Bank account and name it Barter. Receive Payment for the amount being bartered = $20,000. “Deposit” to the Barter Bank.
“but don’t know to offset the 20,000 against a specific invoice/bill in a/p”
Now you are ready to use Pay Bills, and pay this bill and bottom right, pay from the Barter Bank. For this date, then, Barter Bank ends at 0. It is Always supposed to end at 0. That’s Barter.
“We want to use the bank deposit function”
Now you are ready to process the Actual Check for $10,000 as Receive Payment against the remaining Invoice balance.

Resolution for Issue 'How can I record a bank deposit, for a specific company, where we credit various g/l accounts but also need to offset a specific outstanding bill in a/p. Thanks. Dave' available: Yes (Solved).
Source: Intuit Community forum.

How can I record a bank deposit, for a specific company, where we credit various g/l accounts but also need to offset a specific outstanding bill in a/p. Thanks. Dave: 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.

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