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December 17, 2020
Question

Can i set off a journal against a supplier's open balance? I want to show the bill paid through employee reimbursement

  • December 17, 2020
  • 1 reply
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1 reply

Level 9
December 17, 2020

Hello there, manju-b.

 

Yes, you can create a journal entry to write off the supplier's open balance. I'd suggest reaching out to an accountant to help you in selecting the correct accounts. Let me show you how:

 

  1. Go to the +New button and select Journal Entry.
  2. Fill out the correct details of the JE.
  3. Enter the amount under the Credit column. In the next line, select the offset account and enter the amount under the Debit column.
  4. Click Save and close.

You can get more details about this process in this article: Resolve A/R or A/P balances on a cash basis Balance Sheet.

 

Let me know if you have other questions. Take care and have a great day!