How to Track Billed Items in QuickBooks
QuickBooks provides a method to automatically track any of your company's outstanding or paid billed items. If you don't use QuickBooks to send payments, it is possible to still go into the bill into QuickBooks to permit tracking for accounting purposes utilising the settle payments window. Tracking your billed items creates more accurate financial reports, whether your bills are outstanding or paid outside QuickBooks. In regards time for you to pay outstanding billed items, go into the billed items utilising the settle payments window to record the transaction in your register.
Outstanding Billed Items
Click the "Vendors" menu and select "Enter Bills."
Select the vendor associated with the outstanding billed item or add a new vendor by clicking "Add New."
Set the date the billed item was initiated and include the vendor's address when you look at the Address field, if necessary.
Go into the total outstanding payment into the "Amount Due" field. If the amount has been filled in already, replace the amount to reflect the correct amount due. Complete any extra fields which you might use to track the transaction.
Click on the "Save" button. Once you pay the bill, complete the method to enter a billed item paid outside QuickBooks.
Pay Bills Window
Click on the "Vendors" menu and "settle payments."
Look at the column next to each bill you want to pay using a single payment method within the settle payments list. For example, do not select bills you need to pay using a charge card in addition to bills that have to be paid with a check at exactly the same time.
Apply discounts or credits you intend to subtract from the total bill.
Click on the "Payment Method" drop-down menu and select the payment method. Set the options for the way you wish to pay the balance. In the event that you paid by check, make sure the "Online Payment" check box is certainly not selected, otherwise once the payment is saved the balance gets sent electronically.
Click on the "Payment Account" drop-down arrow. Find the account you wish to use to pay the balance, if applicable.
Click "Pay Selected Bills."