Thank you for the video and it was very helpful. my question is. for scenario when you are running different projects and you have different invoices but for the same service provider / vendor. how would you track them separately also putting in mind that they will be paid from different accounts, cause i have noticed when making bill entries for the same vendor it still opens up with the old bills .
Joe Peep if you made the bill payment in Quickbooks then you would match it with the check. If you have not made the bill payment in QB then you would match it to the bill.
is there a way to have our clients go directly onto quickbooks to upload their invoice so it will show up in our QBO? currently they email us invoices and we have to manually enter the info.
How do you pay a deposit with a wire transfer? Do you enter the total invoice into a bill, and pay the deposit now, and the balance later? Do you change the payment to wire Transfer when paying the bill?
In general, yes, I would enter the entire bill, and then pay part of it to save the balance for later. To pay by wire, I would pay by check out of the account you are paying out of, then in the check number field, type "Wire"
@@Parvh if you pay by Amex then you are paying by credit card, not a wire. In this case, you pay the bill and change the payment type to credit card and choose your Amex account in QB
Indrani Pal not necessarily in Accounts Payable unless you set them up as different vendors. To show them differently on a balance sheet you would have to set up a separate liability account
@@QbuniversityOrg Thanks for your reply. I do have two separate A/P accounts, but trying to figure out how to put certain vendors in one of the A/P account. e.g. I have two accounts 1222 & 1223 and I want to put the operational vendors under the 1223 account. Is there a way to put them under that particular account?
Hi, how to record a customer invoice and supplier payment - I’m a consultant. The company that pays me charges me for liability insurance. So I have an invoice for 100.00 + HST and I need to pay then 18.00 for liability insurance. So my invoice is 100.00 + HST 115.00 but they payment I receive is 100.00 + HST - 18.00 = $97. I’m not sure how to enter those transactions and clear.
What if the payment to a vendor bounces back into the bank and I repay him (a reduced amount due to bank charges deduction). How do I do this in QB? If I upload the transaction into bank, will it set off the account payable?
Wadood Khan you’ll have to void the original payment to the vendor (don’t delete it) and this will put it back in AP and back in your bank account. Then add the fees as expenses in the check register. Then go and pay the bill again in QB. All these items then should match the bank feed when they come through so you can match them
@@QbuniversityOrg if for example I had initially paid the vendor 400usd which bounced back into my bank account with 350 and 50 deducted as bank charges and I paid the vendor that 350. Wont there be an open amount left on the account payable?
@@wadoodkhan7666 Right, so your original bill was $400. When you bounce a check, the bank does not take the fees out of the $400, they charge you additional fees. So, the check is like it never cleared - in fact it probably won't ever come out of your bank account, they will just deduct the fees. So in QB if you void the bill pay, it will be as if you never spent the $400, and the bill will show as unpaid, but you will have to record the $50 bounced check fee
Say we've paid a bill via check or otherwise from a bank account we're tracking in QBO.. how is it we connect that payment in the banking/bank account transaction list to the bill we've created in AP?
I'm not aware of a way to enter the bill and not have it show up on the AP report. I guess maybe it depends on why you are doing it - if it's due way in the future just adjust the date. If it's like an insurance renewal where the premium is financed, there would be a different way to record this. If it's just a normal bill that you are holding for some other reason I would probably create an Other Current Liability account and enter a journal entry to enter it there. This way it shows as a liability but will not be on the AP report.
Hello, do you have an email address that I can use to send you a screenshot of my AP aging. I asked QB online tech support and they messed it up really bad. Thank you!
G L I am happy to answer general questions in this setting, but I only answer specific Quickbooks questions for your situation for Members of the Quickbooks University. Thanks!
@@GL-yp1om you can sign up directly on my site at QBUniversity.org. If you scroll all the way to the bottom you can see the option to choose between Quickbooks Desktop training or Quickbooks Online training. Thanks!
I really like how do you explained .. I want to continue to watch your QB tutorial
Guiselle Villamar thanks!
Perfect!!! Very well detailed explained. THANKS
Lin thanks!
Thank you for the video and it was very helpful.
my question is. for scenario when you are running different projects and you have different invoices but for the same service provider / vendor. how would you track them separately also putting in mind that they will be paid from different accounts, cause i have noticed when making bill entries for the same vendor it still opens up with the old bills .
does quickbooks make the payment on your behalf for a bill or does quickbooks only record the activity?
It only records the activity
Once the check clears to pay the bill, do you match that with the bill payment (check) or with the bill when looking at the expenses?
Joe Peep if you made the bill payment in Quickbooks then you would match it with the check. If you have not made the bill payment in QB then you would match it to the bill.
is there a way to have our clients go directly onto quickbooks to upload their invoice so it will show up in our QBO? currently they email us invoices and we have to manually enter the info.
Unfortunately no, but I would check out www.bill.com. We use this for a lot of clients we do outsourced accounting for and it will do that for you
How do you pay a deposit with a wire transfer? Do you enter the total invoice into a bill, and pay the deposit now, and the balance later? Do you change the payment to wire Transfer when paying the bill?
In general, yes, I would enter the entire bill, and then pay part of it to save the balance for later. To pay by wire, I would pay by check out of the account you are paying out of, then in the check number field, type "Wire"
How about if the wire is paid by amex?
@@Parvh if you pay by Amex then you are paying by credit card, not a wire. In this case, you pay the bill and change the payment type to credit card and choose your Amex account in QB
Sorry, I meant International Payments for Businesses using amex
Thanks for your help!!
PH K so you are essentially just paying a bill from an international vendor with Amex? I would still just pay the bill using the credit card.
Is there a way we can separate vendors by vendor payable and trade payable (operations, employee payments) accounts?
Indrani Pal not necessarily in Accounts Payable unless you set them up as different vendors. To show them differently on a balance sheet you would have to set up a separate liability account
@@QbuniversityOrg Thanks for your reply. I do have two separate A/P accounts, but trying to figure out how to put certain vendors in one of the A/P account. e.g. I have two accounts 1222 & 1223 and I want to put the operational vendors under the 1223 account. Is there a way to put them under that particular account?
Indrani Pal is have to check but when you enter a bill can you specify one or the other?
Hi, how to record a customer invoice and supplier payment - I’m a consultant. The company that pays me charges me for liability insurance. So I have an invoice for 100.00 + HST and I need to pay then 18.00 for liability insurance. So my invoice is 100.00 + HST 115.00 but they payment I receive is 100.00 + HST - 18.00 = $97. I’m not sure how to enter those transactions and clear.
What if the payment to a vendor bounces back into the bank and I repay him (a reduced amount due to bank charges deduction). How do I do this in QB? If I upload the transaction into bank, will it set off the account payable?
Wadood Khan you’ll have to void the original payment to the vendor (don’t delete it) and this will put it back in AP and back in your bank account. Then add the fees as expenses in the check register. Then go and pay the bill again in QB. All these items then should match the bank feed when they come through so you can match them
@@QbuniversityOrg if for example I had initially paid the vendor 400usd which bounced back into my bank account with 350 and 50 deducted as bank charges and I paid the vendor that 350. Wont there be an open amount left on the account payable?
Wadood Khan yes but that normally won’t happen that way. The $400 should go back in your account with the $50 an additional, separate charge.
@@QbuniversityOrg but then this will total to 450 as expense in fact it is 400
@@wadoodkhan7666 Right, so your original bill was $400. When you bounce a check, the bank does not take the fees out of the $400, they charge you additional fees. So, the check is like it never cleared - in fact it probably won't ever come out of your bank account, they will just deduct the fees. So in QB if you void the bill pay, it will be as if you never spent the $400, and the bill will show as unpaid, but you will have to record the $50 bounced check fee
Very easy to follow...thanks for videos.
Kristy Mccoy you’re welcome!
Any questions please let me know!
Say we've paid a bill via check or otherwise from a bank account we're tracking in QBO.. how is it we connect that payment in the banking/bank account transaction list to the bill we've created in AP?
Nvm, it was easy enough. Thank you!
@@1983toInfinity glad you got it!
How do I place a vendor account on payment hold? I want to be sure a particular invoice doesn't show up on my A/P report and accidentally get paid
I'm not aware of a way to enter the bill and not have it show up on the AP report. I guess maybe it depends on why you are doing it - if it's due way in the future just adjust the date. If it's like an insurance renewal where the premium is financed, there would be a different way to record this. If it's just a normal bill that you are holding for some other reason I would probably create an Other Current Liability account and enter a journal entry to enter it there. This way it shows as a liability but will not be on the AP report.
Hello, do you have an email address that I can use to send you a screenshot of my AP aging. I asked QB online tech support and they messed it up really bad. Thank you!
G L I am happy to answer general questions in this setting, but I only answer specific Quickbooks questions for your situation for Members of the Quickbooks University.
Thanks!
@@QbuniversityOrg where do I sign up for membership
@@GL-yp1om you can sign up directly on my site at QBUniversity.org. If you scroll all the way to the bottom you can see the option to choose between Quickbooks Desktop training or Quickbooks Online training. Thanks!
if AP was $100.00 but I paid $200.00 how to do it.
It’ll create a credit with that vendor. When you say “how to do it” what do you mean by “it?”