What to do when you have a negative Accounts Receivable in QuickBooks Online

What to do when you have a negative balance on your Accounts Receivable. When you look into A/R Aging Detail and see a negative amount it means that a payment was received without being attached to an invoice or the amount of the payment was for more than the invoice was due.
This tutorial will teach you how to fix it.
If you want to hire us for a one on one tutorial, catch up, clean up, or ongoing bookkeeping please contact us at:
www.thebookkeepingxperts.com
[e-mail]
407 504 9828

[@farwestchamomile]

YES!!! Thank you!!! I spent an entire afternoon trying to figure that out and I just fixed it in 30 seconds.

[@ClaudiaXperts]

Awesome! I am so happy this video helped you fix your problem in QuickBooks!

[@robertoromero7636]

You are great!❤

[@ClaudiaXperts]

Thank you so much!!

[@msbarcenas1428]

Hi! What if the negative accounts receivable were for the year 2021? And just discovered in the year 2023, will this adjustment work? Will it not affect the closed books for 2021 and 2022 if I will create the invoice dated 2021?

[@ClaudiaXperts]

No it should not change it since it was already counted as income. So you would be fine correcting 2021

[@msbarcenas1428]

Thank you for replying! I tried doing it and it changed the numbers of my balance sheet and p&l for 2021 and 2022. Taxes are already filed for 2021 and 2022. Will it get me in trouble?

[@KapilSharma-pi6qm]

Nice😊

[@ClaudiaXperts]

Thank you! Cheers!

[@KapilSharma-pi6qm]

If to fix -ve balance in ap?

[@ClaudiaXperts]

I usually use a regular computer

[@danishshahzad6399]

Please speak little loudly

[@ClaudiaXperts]

I will! Thanks for the feedback!