VFAKathy
Level 3
‎December 07, 2018 10:34 AM

Vendor account shows $0 open, but $5000 overdue?

Can someone tell me why the attached shows $0 open but $5000 overdue? How do I zero out the over due amount? Thanks!

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joanspruill
Level 3
‎December 07, 2018 12:54 PM

Payments

This is happening because your charge was offset by a credit memo. Your charge is overdue and your credit memo is in the current category.  

 

To make the overdue portion go away, you need to go into "receive payments" and use the credit against the overdue invoice.  You will have a payment received of zero, select the overdue invoice and select the credit to offset it. 

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BettyJaneB
QuickBooks Team
QuickBooks Team
‎December 07, 2018 01:46 PM

Payments

Hi there, @VFAKathy. 

 

Glad to have you in the Community today. I'm here to share some clarifications about why your vendors' transactions show zero in open and $5000 as overdue.

 

To get this sorted out, you'll need to make a bill payment. Then link your deposit and vendor credit to zero out the overdue amount.

 

Here's how:

  1. Click on the Plus icon at the top.
  2. Under Vendors click on Pay Bills.
  3. Under Outstanding Transactions check the box for the deposit and supplier credit.
  4. Click on Save and Close.

I've added some screenshots to guide you through the process:

4.png5.png

 

Also, you can check out these article below about, paying bills and handling vendor credits in QuickBooks Online for your future reference:

 

These steps should help you remove the overdue amount on your vendors' transactions. 

 

Please feel free to let me know how it goes, as I want to make sure that everything is working fine on your end. Have a most pleasant day.

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VFAKathy
Level 3
‎December 07, 2018 01:50 PM

Payments

Huge help! Thank you!!

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BettyJaneB
QuickBooks Team
QuickBooks Team
‎December 07, 2018 02:14 PM

Payments

You are most welcome, @VFAKathy.

 

Please know that the Community is always here whenever you need it.

 

Wishing you and your business continued success. 

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joanspruill
Level 3
‎December 07, 2018 02:35 PM

Payments

Oops, sorry.  I answered as if it was a receivable, not a payable.  

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Jawad Kayani
Level 3
‎January 25, 2023 12:48 AM

Payments

I am facing a similar issue.

 

Actually We paid two vendor bills first, the bank debited the amount and then the bank credited the amount. We paid the amount, but the bank posted the reversal entry so the vendor received no money. Later we posted a revised entry and paid the vendor through an intercompany bank account. Now When I post the journal entry for the vendor payment, the opening balance is zero, but the overdue balance remains. What should I do now.

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