This article addresses the benefits of and how to create an Accounts Payable by Report Date in QuickBooks Online. This report is one that you will need to customize the parameters from a typical Accounts Payable Summary report by simply choosing the “Report Date” option in lieu of the “Current” date option. Most of
Read MoreThe article will address basic bookkeeping concerns to think about when utilizing a 3rd party (outsourced) bill payment service (such as Bill.com). To begin, a 3rd party bill payment service can be a most convenient tool or service for your business, especially if it integrates directly with your bookkeeping software, such as QuickBooks Online.
Read MoreNote: This article assumes you do NOT have the “Automatically apply bill payments” setting turned on in your QuickBooks company settings. Let’s say you process an Unpaid Bills report and get the following results for one of your vendors: Vendor has an unpaid bill in the amount of $300. Vendor ALSO has an unapplied credit
Read MoreHere is a video showing how to apply an old vendor credit to a new vendor bill:
Read MoreNote: This article assumes you do NOT have the “Automatically apply bill payments” setting turned on in your QuickBooks company settings. If one of your vendors currently has a credit (negative) balance in your books, then let’s create a new bill and then apply this open credit balance to it: Find your vendor (with the
Read MoreThere are different ways of viewing a report in QuickBooks Online that will show open vendor liability and credit balances. Please note: Your QuickBooks Online subscription may prevent you from having access to certain reports. So let’s begin: Go To>Reports>Reports Scroll down to the section under “What you owe” Click on Unpaid Bills Note: when
Read MoreWhen you process an overall company health financial statement such as the Profit & Loss or a Balance Sheet, you may find inaccurate balances due to the fact that your Accounts Receivables and Payables need attention. In my experience, it can be quite common to see a business owner disregard the value of each detailed
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