QB Issue Resolution:
If you report on a cash basis, you may see two accounts for unapplied cash payments. These accounts are automatically created by Quickbooks Online for cash-basis reporting and cannot be deleted or changed.
Unapplied Cash Payment Expense is equivalent to cash payment income but on the expense side. It’s used to report the Cash Basis expense from vendor/vendor payment checks that you’ve sent but not yet applied to a vendor/vendor bill. This can also occur in the case that a bill is created for a credit card account balance. You’ll never use this directly on a purchase or sales form.
If an incorrect amount is showing in this account, you’ll need to apply the bill payment to a bill that is dated before the bill payment.
- Take note of the vendor and amount for each Bill Payment in the list of your P&L.
- Click the Create icon ⨁, then Pay bills.
- If you see bills matching the Bill Payments in the list, check the checkboxes next to them, then Save.
- If you don’t see a matching bill for one of your bill payments, create it:
- Hit the Create icon ⨁.
- Click Bill. Fill out the form with the same vendor, amount, and date as the bill payment.
- Select Save.
- Repeat the steps for any bill payments left on the list.
Resolution for Issue 'What does it imply a negative unapplied cash bill payment expense? I have a negative amount of unapplied cash bill payment expenses. How can I clear this from the cash basis P&L?' available: Yes (Solved).
Source: Intuit Community forum.
What does it imply a negative unapplied cash bill payment expense? I have a negative amount of unapplied cash bill payment expenses. How can I clear this from the cash basis P&L?: 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 Profit and Loss
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