I have recently taken over an accounts position and I am tidying up the AP. There was an overpayment made back in 2008 and the business no longer uses this supplier. There is a credit amount on the AP report and I was wondering how I get rid of that? Thank you
Create a Journal for the amount of the overpayment with the Debit going to an Expense account (write off account?) and the Credit to Accounts Payable with the Supplier selected in the Name column. Then pay the Bill with the credit the GJ creates to reduce your Supplier balance to 0.00 and clear outstanding entries in the Unpaid Bills report.