Quick Book 2008 (Customer/Vendor Payment)
I find this an intriguing question. I have an idea, but I am going to have to play with it too see exactly what happens in QB if you do it. Basically, it would be to do a journal entry debiting accounts payable 800 and crediting accounts receivable 800 dollars leaving a AR balance for the customer of 200 dollars. Which would be taken care of when you receive the payment and credit it this AR account. I do wonder if this will create the necessary credits/payments balances for the customer that would allow you to remove the PO and Invoices. I am going to play around with this a bit. EDIT: You can’t do this exactly the way I said, because QB won’t allow you to do JE with AR and AP at the same time. But this absolutely works. I tried it. Set up a new account, an asset account, called Clearing Account. Now select the smaller of what you owe (AP) versus what you are owed (AR). Let’s say you owe 110 and are owed 250.
