Clearing out an accounts payable item without it affecting the books.
We went through an acquisition last April and entered a journal entry in QB Online to clear out the balance in each account. We then reversed those entries as of the next day since that was the 1st day under the new owner. We cleared out an AP total for lets say for $1.5 million, then put that $1.5 million right back in the next day. This total was for everything sitting in AP at the time. Now, when we go to pay bills in QB, we see the $1.5 million sitting there as if we need to pay it since we put the money back into AP. How do we clear out this items in payables without it affecting the books? We closed out 2022 and the books can't change at all.
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