Hello there, @Txroofer.

I'm here to clear things out for you. We'll need to write off vendor balances. To do this we'll need to create an appropriate journal entry.

Here's how:

1. Go to the Company menu.
2. Choose Make General Journal Entries.
3. In the Make General Journal Entries window, modify the date and input the entry number.

For vendor with an overpayment, I'll show you how:

1. Choose the Account field and select Accounts Payable.
2. Input the amount under the Credit column, and select the vendor name from the dropdown list.
3. In the next line, choose the offset account and enter the amount under the Debit column.

On the other hand, for a vendor with underpayment, here's how:

1. Click the Account field and choose Accounts Payable.
2. Enter the amount under the Debit column, and select the vendor name from the dropdown list.
3. In the next line, select the offset account and enter the amount under the Credit column.
4. Once done click Save & Close.

After, we can now apply the journal entry to the existing debit/credit.

1. From the Vendors menu, choose Pay Bills.
2. Click the bill and select Set Credits.
3. Under the Credits tab, choose the available credit and select Done.
4. After click Save & Close.

Should you need to run some reports in QuickBooks Desktop, feel free to check out this article: Understand reports.

Let me know if you have any other clarifications. I'd be glad to assist you as soon as I can. Have a nice day.