Quickbooks 2021 Tutorial for Beginners - How to Enter Bills Already Paid
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- čas přidán 3. 07. 2024
- QBUniversity.org - Quickbooks 2021 tutorial for beginners, how to enter bills already paid - in this Quickbooks tutorial I walk you through how to enter bills already paid.
There are times when you enter a payment in Quickbooks, but want to go back and also enter the bill. How do you do this without doubling the expense? And how do you do it to make sure the payment offsets the bill?
This video, how to enter bills already paid in Quickbooks 2021, walks you through the steps you need to take to make sure you do it right, every time.
Discover this process and more at QBUniversity.org
Feel free to leave a comment or question here! Keep them short please! For one-on-one support, visit QBUniversity.org
This is great! Thanks!
Welcome!
Your videos are great and very helpful. My bookkeeper suddenly left and I (who is anything but an accountant), must fill the hole. My main goal is to not mess up the books before I get a replacement!
My question: If I get an invoice that is dated 12/15/21 and has terms as Net 30, I will pay it in January. Do I need to go back after I pay it and use this method? We use an accrual base.
Sounds great, good luck with it!
Hi! First, thank you for your videos, they are really helpful! When I enter the bill and try to add Vendor under Customer job, it won't let me. It says I need to create a new Customer. When I try to do that, I get a note that a Vendor is already created with that name and I have to choose another name. How can I overcome that? Thank you!
pls advice me ! i had to take over my father's hardware business.But they were handling it in traditional way so no stockcards everything manually done no proper records or follow up either so it's hard for me to get started Ive entered some stokes still I m clueless am I doing correct 😢pls tell me where should I start
Are you saying I need to set my vendors up as customers in order to do these steps? I don’t wanna a bunch of vendors listed as customers. Could we set up one customer to use for all of them?
No you would not set up your vendors as customers
Your videos are great and very helpful. I’m at a crossroads?? I have my phone/internet payment automatically taken out from my credit card and not the business.
Now how do I go back and pay myself to the business or add those as bills??
I’m confused as to how to convert them over to quick books. TYIA for any help Donna
Do an expense report to reimburse yourself then enter a bill payable to you to record the expense
@@QbuniversityOrg thank you I’ll try it tomorrow and see if I can do it. Thank you so much for getting back to me
@@donnahood6377 you’re welcome!
Thank you so much for your help and getting back to me sooooo fast!! I still have a few questions if you don’t mind?
I have payee ? then payment account ??and payment method ??
Payee?? Do I put my personal name as a vendor or customer ?
Payment method? Do I put credit card, cash?
Payment account? Idk what to put here??
Thank you for your help
@@donnahood6377 no worries! You would be a vendor.
Good days sir. Please sir when creating my company, I have entered an opening balance which created an equity account. Is it appropriate that the money sits in the equity account or is there something I need to do on the equity account?
It depends. Did you deposit that money? If so then yes it would stay in equity
@@QbuniversityOrg Thank you sir, I deposited the money and from what you said that means i will leave it at the equity account.
But sir, what if I didn't deposit the opening balance, is there anything I should have done to the opening balance in the equity account?
I followed the directions and it worked, however it created another line in the register, BILLPMT, accts payable, memo- QB gen zero amt trans foe bill pmt stub, 0 pmt?
No idea what that is? Which register is that in?
@@QbuniversityOrg it put an additional line above the original check as stated above in the check register. I wrote a check in QBDT and was following your instructions to add the bill already paid. All the steps worked except it has a new $0 line above the check in the check register
This same thing happened to me. I now have two lines, one with the bill date/no check number/accounts payable/ $0.00, and the second line with the check number/date bill was paid/ accounts payable/payment amount. Is this ok or did I do something wrong? @thequickbooksuniversity
@@XGuEsSWho0oX When you sing you have two lines where are you looking to see this? The check register?
@@QbuniversityOrg yes
Good day sir. Please sir,y fiscal year is January to December. But my office rent bill and payment is issued and done February of every year. Is it a good idea to record the office rent in each new fiscal year or it is best to record it at the previous fiscal year?
The office rent bill comes in the month of February and we are required to pay the bill at the end of February. So I wanted to know if it is best to record the bill for the new fiscal year or against the previous fiscal year.
Awaiting your response sir.
Does it represent the previous years rent or the year it is paid in?
@@QbuniversityOrg well, I don't even know if I will say it represent just the previous year. The issue there is that my company fiscal year was recorded as January to December. Now for example, the rent is from January 2021 to January 2022. The bill for the rent comes in the month of February 2022 But am required to pay the rent by latest end of the February 2022.
My question is this, should I record the rent bill and pay it as of the 2021 fiscal year expenses or as of the 2022 fiscal year expenses?
Thank you sir, I await your response.
@@gabrielchristopher9363 it sounds like it should be a 2021 expense
@@QbuniversityOrg Thank you sir. Will it be appropriate to enter the bill for February 2022 and record the payment as of December 2021? Or I should do both entering of the bill and payment of the bill in December 2021?
@@gabrielchristopher9363 I would enter it as of December 2021 and pay it as of february