Accounts Payable in QBO - How to record bills and manage AP

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  • Опубліковано 6 чер 2024
  • If you want to get started with Quickbooks Online, we offer the best deal on the internet with a 30% discount for 12 months and a free month trial here: www.claracfo.com/qbo
    Accounts Payable management can be a real struggle for many companies. Quickbooks Online wants to make it easy for you to manage and pay your bills through their system. This video is all about how to use the AP module in QBO.
    In this video you will find:
    0:00 Quickbooks Online Accounts Payable
    2:45 Expense module
    3:10 QBO Vendors
    3:30 Payee in Bank Feeds
    4:52 Bills in QBO
    5:12 Vendor Setup
    5:50 Contractor Payments
    6:22 Why do we track bills?
    9:12 Get bills into QBO
    12:40 Matching Bills to Bank Feed
    13:34 AP Aging Report
    To learn more about CFO services, go to: claracfo.com/cfo-services/
    💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a discounted subscription for 12 months! claracfo.com/QBO
    🙋‍♀‍Got Employees? Talk to ADP! They can help you if you are a small business owner or an accountant or advisor who works with small businesses. Learn more here: claracfo.com/adprun
    💸Pay vendors any way they want and get paid faster! Accept credit cards without paying merchant fees! Melio is a fantastic payments solution for every small business! claracfo.com/melio
    (As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases)
    Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
    Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
    CODE: MB01GWLTPNMKWAU

КОМЕНТАРІ • 34

  • @BardenAccounting
    @BardenAccounting 3 дні тому

    When you are talking about the outstanding bill for PG&E and you say, let's say you figured out that you paid the bill and it just "didn't get matched up" and you can very easily go find that payment and match it up... Can you please show us that process? Will "fixing" it mess up a bank reconciliation? Thanks again for another great video. You are professional and well spoken and you share some of the most up to date down to earth videos. I really appreciate you.

  • @humingbird2187
    @humingbird2187 3 місяці тому +3

    Yes please!!! a tutorial how to pay bills would be great!!!!!

  • @travisharms9772
    @travisharms9772 3 місяці тому

    That seems so simple, thank you

  • @DanielAngelLuna
    @DanielAngelLuna 3 місяці тому +1

    Love your teaching style.

    • @ClaraCFO
      @ClaraCFO  3 місяці тому

      Glad you enjoy it!

  • @allengubalane6607
    @allengubalane6607 3 місяці тому

    Hi Hannah!
    You're tutorial is amazing and easy to understand. Happy to learn from your UA-cam tutorials Grateful to be one of your subscribers😊

    • @ClaraCFO
      @ClaraCFO  3 місяці тому

      Grateful to have you here!

  • @user-bs6yq5ik1m
    @user-bs6yq5ik1m 3 місяці тому

    I just subscribed to your channel because it's so helpful!

    • @ClaraCFO
      @ClaraCFO  3 місяці тому

      So glad! thanks for being here!

  • @user-bs6yq5ik1m
    @user-bs6yq5ik1m 3 місяці тому +2

    Thanks for these great videos! I have been using QB desktop for many years and now looking to move to QBO and your playlist is very helpful. Keep them coming-you explain things really well!

    • @ClaraCFO
      @ClaraCFO  2 місяці тому

      Glad it was helpful!

  • @LotusLegalServices
    @LotusLegalServices 2 місяці тому

    Hi Clara! Thank you so much for your videos! They have been great help doing my own accounting for my business. What do you suggest (chart of accounts) on monthly car payments? TIA

  • @humingbird2187
    @humingbird2187 3 місяці тому +1

    Thank you very much for your tutorials, I found them amazing. I will be new to QBO and even though I know a little bit the principals of accounting, I find it very difficult to navigate in this new program as to what to click first to get to where I want to see. So I don't know if you can say: you go here first and then you go there. I am sorry maybe I sound confusing, but I get lost. Thanks again.

  • @joro7304
    @joro7304 6 днів тому

    Thanks for this video babe.

  • @sheilaschmitt383
    @sheilaschmitt383 2 місяці тому

    Your videos are very good. In QB Desktop, you can print bill payment stubs. How is this done in QBO?

  • @allannortje6440
    @allannortje6440 2 місяці тому

    Subscribed ! Oh and liked. As long as you guys help us trainee accountants land a job, this is the least I can do.

    • @ClaraCFO
      @ClaraCFO  2 місяці тому +1

      Haha - I can't guarantee that, but having Quickbooks skills should help!

  • @HimalayaAhuja
    @HimalayaAhuja 2 місяці тому

    Can you please teach Aging Analysis

  • @RajJohal
    @RajJohal 3 місяці тому +1

    Please do a video actually showing physical/paper check printing in a/p. Also, would you do a payroll video, showing p/r check printing?
    Thank you, I lean quite bit from your videos.

  • @bmcyr
    @bmcyr 3 місяці тому +1

    Hello Hannah! So grateful for your videos as I’m a newbie to quickbooks. I do have a question: how do I manage bill payments that are paid for personally (home-based business) that for example the business would be paying 25% of the bill? How would I account for that, as well as the taxes? Maybe you have a video that walks through this already? Thanks for your time!

    • @ClaraCFO
      @ClaraCFO  3 місяці тому

      hi! you can split the transaction to have the portion that is a personal expense go to "owner's distribution (aka draw)"

  • @HimalayaAhuja
    @HimalayaAhuja 2 місяці тому

    Please teach vendor credit, also if vendor gives discount

  • @chienpaulhsu5736
    @chienpaulhsu5736 2 місяці тому +1

    I have a bill from 2023 and i made a payment in 2024. How do i apply that to 2023 so my aging report shows a lower amount?

  • @eugeneasiamah8337
    @eugeneasiamah8337 2 місяці тому

    Hello Clara, Hoping you respond.
    I run a retail business in the USA and sell mostly on Amazon. The products are imported/purchased from a company in a different country for which i receive a bill for every purchase made.
    My first question is when i receive this Bill from my supplier do i post these purchases between the supplier and my inventory account? I also read somewhere, I can reduce or increase the inventory count by posting between the inventory account and COGS at the end of the month/year. Will I be right to do this?
    Final Question is when my supplier ships products to me and the products upon reaching me are damaged and therefore have to ship them back, who bears the cost of the return shipping and if for some reason, I bear the cost, how do i treat the shipping cost in my accounts in quickbooks.

  • @winkhvac62
    @winkhvac62 Місяць тому

    NEW SUB

    • @ClaraCFO
      @ClaraCFO  Місяць тому

      Thanks for subbing!

  • @roialnet
    @roialnet Місяць тому

    How about monthly Internet bill would that still require recording in Accounts Payable when you can just credit Cash and debit Internet Expense, fast and simple.

  • @ndachannel290
    @ndachannel290 20 днів тому

    what if there is a partial payment for a bill, how to pay it?

  • @kimberlystallings364
    @kimberlystallings364 2 місяці тому

    I have a client who has multiple invoices from a vendor. I am only in charge of uploading the bills in qbo. My client pays the vendor. There is a unapplied bill payment which is causing the balance to be off. I contacted the vendor and the client did not over pay. How do I remove this unapplied bill payment?

  • @SP-mg3li
    @SP-mg3li 3 місяці тому +1

    Hi, How would you put this transaction into QBO? I bought a garden hose for my husband's business (it is in his name only). I bought it from my personal Walmart account using my personal Walmart credit card. I messed up and didn't attach the business name to the purchase.

    • @ClaraCFO
      @ClaraCFO  3 місяці тому

      I have a video for that! ua-cam.com/video/pqT2Ky4_9ME/v-deo.html