Since you've overpaid your vendor, we'll have to record a deposit and create a bill credit for the overpayment, then link both of them. It will deduct the amount of your A/P instead. Once we create a bill payment, the program will not transfer the amount to the A/P account. I'm here to share some information about how overpayment works in QuickBooks. Thanks for providing additional information about your concern, Ariel. Or I could add some entry to the General Journal to correct the balance to the credit card: but I am concerned that if I do this wrong (which is likely: I don't play around with the General Journal unless asked to do so) I would make things even worse. Or I could adjust the statement balance for the reconciliation by $217.43: but I am concerned that then QuickBooks would say I owe $217.43 less than I actually do on the credit card, which just pushes the error into next month (and makes it that much harder to fix). For example, I could force a reconciliation and add a comment that the $217.43 was due to QuickBooks not properly recording the overpayment: but I want to avoid reconciliation errors if I can. I just want things to balance as they ought. I personally do not care if the fix is somehow in the reconciliation screen or with the transaction in the Vendor Center.
But I am at a loss as to how to fix the problem cleanly and correctly. The Accounts Payable Aging report (page 4 of the screenshots) shows $217.43 as being 31-60 days past, which I think is consistent with my guess.
My best guess is that while QuickBooks transferred the full $4100 from the checking account to "Accounts Payable", QuickBooks only transferred $3882.57 from "Accounts Payable" to the credit card account, which is why QuickBooks thinks the account was only paid in full, not overpaid. If Quickbooks would acknowledge that I paid $4100 rather than $3882.57, the reconciliation would be fine. Thus, the reconciliation screen shows a difference between the cleared balance and the ending balance of $217.43. (In case it matters, the fact that both numbers are negative is consistent with all prior transactions on this account.) The Vendor Balance detail report (page 2 of the screenshots) is consistent with this information.īut as shown by the Reconciliation screen (page 3 of the screenshots), the payment is listed as only $3882.57, not $4100. I have attached screenshots of the Vendor Center screen, the Reconciliation screen, the Vendor Balance detail, and the Accounts Payable Aging.Īs you can see from the Vendor Center (page 1 of the screenshots), the bill was in the amount of $3882.57, and the payment was for $4100. I hate to post screenshots, but I think I adequately redacted the pictures. I think that something got messed up earlier, like QuickBooks not correctly handling the overpayment. But at this point I don't see any other solution than to post the data and explain.Īlthough the problem is rearing its head during reconciliation, I don't think the problem actually lies with the reconciliation flow. To give you more information about the problem, I realized I would have to post some personal data, so I wanted to explore solving the problem without doing that first.
But there ought to be some way to get Quickbooks to reflect the credit on the account so that I do not need to force a reconciliation. Obviously, I could force a reconciliation by telling Quickbooks to correct the amount. The Vendor Center shows a payment from the checking account in the correct amount (with overpayment), even though the bill itself was for only the amount on the statement. Quickbooks 2015 shows the open balance when I go to the vendor center, but not in the reconciliation screen. As a result, the reconciliation is off: by the amount of the overpayment.įor the life of me, I cannot find any way to get Quickbooks 2015 to acknowledge that I have a credit on the reconciliation screen. But when I attempt to reconcile the credit card, it shows the payment on last month's statement to be only the amount that was owed: not the overpayment amount. This month, I have received the bank statement, which reflects the overpayment correctly.
I did this by adjusting the Amt to Pay column in Pay Bills to the amount actually paid, which was in excess of the amount listed on the statement. Last month, I made an overpayment on the credit card.