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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Accounting Question - ...
Small and medium business | Business Central, N...
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Accounting Question - Overdue Amount for Vendor

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Posted on by AXEON Man 171
I committed a newbie error -I posted transactions without verifying.

Regardless of how I got here, I now have a zeroed out Chart of Accounts with some journal entries to correct errors.

I do however have a vendor "Amazon" showing with a $-799.95 overdue amount and I need to clear it.

Thoughts on how?

There are no other balances to adjust.
Categories:
Dynamics 365 Business Central
  • AXEON Man Profile Picture
    AXEON Man 171 on at
    Accounting Question - Overdue Amount for Vendor
    I appreciate your replied everyone.

    The root of this was that some purchases I posted too quickly posted to the wrong accounts -this was due to faulty posting setups that I'm fixing now.

    I have an unapplied Posted Purchasing Credit Memo matching the -$799.95 balance.  I just need to figure out how to apply it and clear the balance.
  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 80,084 Super User 2025 Season 1 on at
    Accounting Question - Overdue Amount for Vendor
    Hi, there are two situations:
    Invoice -> Credit Memo or Payment
    Payment -> Invoice or Refund
     
    So you can't clear it out of thin air, you have to go through some operation, which will leave a record.
    PS: Dynamics 365 Business Central: Can we insert/modify/delete posted data (Posted Documents & Posted Entries) via AL???
     
    Hope this helps.
    Thanks.
    ZHU
  • Suggested answer
    Ramesh Kumar Profile Picture
    Ramesh Kumar 2,171 on at
    Accounting Question - Overdue Amount for Vendor
    Hi,
     
    I would suggest reviewing all the related entries updated in the Excel sheet and reversing them. Avoid doing it one by one, as this can lead to confusion. Make sure to carefully check all the debits and credits before reversing them
     
     
    Thanks
    Ramesh
     
    If this was helpful, please check the "Does this answer your question?" box and mark it as verified.
  • Suggested answer
    Suresh Kulla Profile Picture
    Suresh Kulla 46,344 on at
    Accounting Question - Overdue Amount for Vendor
  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 27,110 Super User 2025 Season 1 on at
    Accounting Question - Overdue Amount for Vendor
    I would just simply reverse all the transactions you entered that are incorrect. IF you go to the vendor ledger entries you can select an entry and click on reverse transaction. Note that this will work for transactions that came from journals. If its a posted document such as a posted invoice, just go to the invoice and click on the Cancel button.
     
     
     
  • AXEON Man Profile Picture
    AXEON Man 171 on at
    Accounting Question - Overdue Amount for Vendor
    OK, I've reversed one of my journal entries, I have the amount, $799.95 in my Accounts Payable and an Asset account.  how do I make those balance AND ensure the Amazon account is zeroed out?
  • Suggested answer
    Jainam M. Kothari Profile Picture
    Jainam M. Kothari 3,797 on at
    Accounting Question - Overdue Amount for Vendor
    Hello,
     
    Balance (LCY) Amount is reflected from Posted Purchase Invoices which has the Remaining Amount.
     

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