Hi

Does anyone know how to do the offsetting? Please see down below.

We accrued amount of $75,000.00 in 2019 and made the general entry.

But we received the amount of $75,000.00 ($22,500.00+$33,750.00+$18,750.00) this year (2020) and created the AR invoice and GL Cash Receipt.

I think I need to do the offsetting for year 2020. Can anyone please tell me how to do it step by step?

And where should I do it? AR invoice? GL Cash Receipt? Or both?

And once I make an offset will it look like ZERO in this account for year 2020?

Thank you

2019 Statement of Revenue and Expense