QB Issue Resolution:
“But I since have a balance from bills that were paid by means of joint checks.”
Meaning, you did not even have to pay that, so it is not something you incurred.
“(Our Customer made a joint check we signed and sent it to our Vendor.) That income was not entered into QB so I can’t use it to credit the bills. What’s the best way to clear out that balance?”
Well, overlooking that Gross Income is the place to start, then.
It either is your cost and your income, or None of it is yours. You cannot split that at will.
If you have costs used for tax filing and reporting, and if you have payroll labor and other costs incurred for providing some sort of good or service to that customer, then that Is your income, or revenue from a sale. That means you need to catch up that missing info, then use it to pay the bills.
You can set up a “Clearing bank” to manage that there are no Funds being exchanged; you essentially have a barter situation, that the customer used your payment to pay your Vendor.
Or, as I pointed out, none of this was your cost or your revenue and you were not even involved. But “joint checks” sounds like part of Business Operations, to me.
Resolution for Issue 'How to clear Account Payable balance' available: Yes (Solved).
Source: Intuit Community forum.
How to clear Account Payable balance: 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 Account Payable balance
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Error Recovery for Account Payable balance [Canada]
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