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Old QBO Desktop Account and Payment Reconciliation for QBO Online Account

By Amelia Dwyer

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If user had existing open invoices in QB Desktop and now have Online.

 

-Invoices affect Balance in Account Receivables since they are expecting a payment

 

-They migrated to QBO and have open invoices and also a balance on Account Receivables (This is the tricky part). 

 

 

Recomendation 1

-If they are planning on using Revel to manage customer they may need to use QBO to manage prior information. New information will be managed in Revel.

-Once they receive payment for invoice, they can create a payment in QBO and apply it to the invoice.

 

Recomendation 2

-Adjust inventory in Revel as well as creating journal entry for Cost of Good Sold

-Once they receive payment for invoice, they can create a payment in QBO and apply it to the invoice.

 

* This will affect the account receivables, it will bring the account down - depending on the form of payment it may affect undeposited fund or if they select bank as the deposit account.

 

For further assistance please contact QuickBooks Online at:

1(800) 914-2688 DNIS:68225



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