|QuickBooks’ Bill-Paying Tools Make Tracking Easier, Cash Flow More PredictableIf you’re just writing one-off checks to pay bills, you’re missing out on many benefits. QuickBooks’ Calendar and Reminders help you manage your vendor bills and expenses. But if you use the program’s built-in tools to record and pay bills, tracking them will be much more effective. You can:
Recording Each Bill
If you’re purchasing items that will be used for a specific customer and job, click Enter Bills on the home page, or in the Vendor Center. This window opens:
Figure 1: You can either enter a bill’s information manually or pull in purchase order details.
If there’s a matching purchase order, QuickBooks can transfer its information. If not, enter the items on the bill. Check the Billable column and assign it to the correct customer/job so that these items can be easily invoiced.
If you have related expenses (like utility bills), click on the Expenses tab to enter those charges. Then save the bill. You can see it in reports and in the Vendor Center.
To pay a bill, click Pay Bills from the home page or Vendor Center. In the window that opens, find the bill(s) you want to pay by specifying a due date and/or selecting a vendor. You can sort the list by Discount Date, Due Date and Amount Due.
Figure 2: You can specify options at the bottom of the bill-paying screen.
Highlight a vendor and bill to view options. If a discount or credit is available, you can claim it here. Make sure that the payment date and account are correct and specify a payment method.
There are many ways you might pay vendors, so it gets a bit tricky here. Checks are easy; select that option and indicate whether you’re writing a check manually or you want QuickBooks to print one. If you remits funds by, for example, PayPal, EFT, debit card or online vendor payment, we can help you document the payments.
Click Pay Selected Bills and do any necessary follow-up.
Some Complicated Tasks
It’s inevitable: Everyone occasionally makes mistakes and needs to edit, void or delete bills. Let us walk you through these steps and answer any other bill-paying questions you have.
This method takes a little extra work, but the payoff is an improved ability to track bills and payments, and to make more accurate cash flow projections.