Accounting Question - Overdue Amount for Vendor

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Posted on by AXEON Man

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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.

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Dynamics 365 Business Central

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Jainam M. Kothari 15,639 Super User 2025 Season 2 on at

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Hello,

Balance (LCY) Amount is reflected from Posted Purchase Invoices which has the Remaining Amount.

May this can help : https://www.youtube.com/watch?v=3-fI3Mrhx2w

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AXEON Man 1,075 on at

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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?

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Valentin Castravet 31,485 Super User 2025 Season 2 on at

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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.

Valentin Castravet
Work: Zander ERP Services
Blog: Dynamics 365 Business Central Insights
LinkedIn: www.linkedin.com/in/valentin-c-0500a247/

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Suresh Kulla 50,245 Super User 2025 Season 2 on at

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You can either create a credit memo or if you have invoice related to that you can reverse or cancel it.

https://learn.microsoft.com/en-us/dynamics365/business-central/purchasing-how-correct-cancel-unpaid-purchase-invoices

https://learn.microsoft.com/en-us/dynamics365/business-central/finance-how-reverse-journal-posting

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Ramesh Kumar 7,529 Super User 2025 Season 2 on at

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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

https://learn.microsoft.com/en-us/dynamics365/business-central/finance-how-reverse-journal-posting

Thanks

Ramesh

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YUN ZHU 95,741 Super User 2025 Season 2 on at

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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???

https://yzhums.com/54657/

Hope this helps.

Thanks.

ZHU

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AXEON Man 1,075 on at

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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.

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Khushbu Rajvi. 20,643 Super User 2025 Season 2 on at

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If this helps: https://community.dynamics.com/forums/thread/details/?threadid=c543cc62-10c5-4724-9b8c-b16ba7da93db

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