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Pay A Credit Card Bill Using QuickBooks

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Paying QuickBooks Bills with a charge card or Vendor Credits
Paying QuickBooks Bills with a charge card
Paying QuickBooks Bills with Credit Cards and Vendor CreditsSituation 1: You’ve entered a bill to your QuickBooks, and it also’s now listed as an outstanding payable. You’ve just determined that some of these QuickBooks Bills were (or may be) paid with credit cards. What now ??
Company owners and bookkeepers often use bank cards to pay for QuickBooks bills.

The motivation could be the ease and convenience of paying by phone or online, the person paying the balance could be at the vendor’s site and really wants to pay the bill while there, it could be for security or tracking purposes, and/or to earn bonus points for travel or additional products.

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Paying QuickBooks bills with a credit card is a very common occurrence – plus one that you’ll want to know how to deal with.

To record your Credit Card Bill payment:

Go directly to the bottom of this Bill Payments screen, and locate the “Method” field.
Change it from ‘Check’ to ‘Credit Card’.
Then go directly to the ‘Account’ field, and choose the credit card account that you’ll be using for payment.
Paying QuickBooks Bills with Credit Cards and Vendor Credits

Find the Bill(s) you want to pay with credit cards.
Click the “Pay Selected Bills” button and Shazam(!!) your Bill payment is properly recorded along with your bank card balance is increased.
Keep in mind! QuickBooks will ‘remember’ that you paid your Bills with that charge card, therefore the the next time you pay Bills – guess what – it's going to default into the most recent payment ‘Method’ you used.

When you just paid some QuickBooks Bills via charge card, and later choose to pay Bills in your regular way (e.g., to pay for the Bills from a bank checking account), if you forget to change the “Method” and “Account” fields, you might end up with lots of payments going resistant to the credit card account. Aaargh! You may find yourself with a lot of manual corrections to pull through.

So always check the “Method” field at the end for the screen before you strike the “Pay Selected Bills” button.

Paying QuickBooks Bills with a Vendor Credit
Situation 2: It’s time for you to pay the business bills. You wish to make certain that you don’t overlook any outstanding vendor credits which should lower the amount you pay to a vendor.
Here’s an instant option to ensure that you find – and take – all of the credits you deserve!

Before paying Bills, review the existing status of the bills to pay for. My favorite ‘background check’ reports include the
Accounts Payable Aging Summary,
Unpaid Bills Detail, and
Vendor Balance Detail.

When it is time and energy to actually pay your Bills, and you place a check-mark within the white column for a Bill that you would like to pay, if a vendor credit exists, the Set Credits button at the bottom of the screen will transform itself into a ‘clickable’ button:
You’ll be able to observe how many credits exist and also the total $ amount available.
After that you can click on the button and select the credit(s) that you want to make use of to that Bill.
QuickBooks will apply the credit(s) to the Bill and minimize the amount that shows in the ‘Amount to Pay’ column.
If possible, apply smaller credits against larger bills. Why? When a credit pays the complete bill, the credit will “disappear”.
For better tracking, apply a smaller sized credit to a bigger bill so the information and knowledge will show up on the check voucher that would go to the vendor, and makes it much simpler to allow them to observe how you’ve applied the credits.
Both of these tips should help you pay all your QuickBooks Bills more efficiently – regardless of the manner in which you elect to pay them.

If this information helped you, check out our affordable QuickBooks subscription training series. If you’d like individual coaching, or have any queries, please give us a call or send us an e-mail today.