QB Issue Resolution:
You’re not the only user who’s experiencing this scenario, inlightin-doug. We’ve got the same question from users who switched from different accounting software, too.
You could have just categorized the bank transactions as income or expenses, and have added them to your bank register. This wouldn’t post them as credits to your customers’ (or vendors’) profiles. However, since you’ve already added your transactions and categorized as Accounts Receivable, you can continue from there. Yes, you will want to add the invoices in 2019 and use the credits to pay them. This will bring you back to zero.
First, you’ll want to disable the option to automatically apply credits to open invoices, so you can select which credits to apply.
- Click the Gear icon and choose Accounts and Settings.
- Choose Advanced.
- Click the Automation section.
- Remove the checkmark in the Automatically apply credits checkbox.
- Click Save and click Done.
To apply the credits to the invoice, just click Receive Payment on each invoice. Then, choose a Deposit to apply as payment in the Credits section, like in the screenshots below.
Please let us know if you need more help with your bank transactions and invoices.
Resolution for Issue 'New QB Online user, uploaded bank transactions from last year and labeled all customer payments as Accounts Receivable; customers have negative balances now. what to do?' available: Yes (Solved).
Source: Intuit Community forum.
New QB Online user, uploaded bank transactions from last year and labeled all customer payments as Accounts Receivable; customers have negative balances now. what to do?: 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 bank transactions and invoices
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Error Recovery for bank transactions and invoices [Canada]
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