Wrong Linked Category used
Hi There, Previously, the asset category account for tracking receivables that was linked to it was a bank account. So probably that was why the bank account, instead of AR, was credited everyti...
Forum Discussion
Hi Epicbiz,
Welcome to the Community Forum!
In this type of scenario, we recommend reaching out to an accountant for an accurate solution. However, to give you some guidance, you can create a general journal entry to reverse the incorrect credits to the bank account. This involves debiting the bank account and crediting the accounts receivable (AR) account for the total amount of the invoices that were incorrectly credited. Once the incorrect entries are reversed, you will need to reapply the payments to the correct AR account. This can be done by creating a new general journal entry that debits the AR account and credits the bank account for the same total amount.
I hope this helps!
Regards,
Earl
