Learn the complete procedures to use the Accounts Payable workflows in QuickBooks Desktop:
Talking about accounts payable, it is basically a record of outstanding bills for the business. This is basically used by the users to track the money they owe to the vendors. When the user enters a bill, then QuickBooks will add accounts payable to the chart of accounts. And when the user enters or pays the bill, then the software records the transaction to the accounts payable account. Now coming to the account’s payable workflows, there are two accounts payable workflows that are available in QuickBooks desktop. For recording the accounts payable transactions, select the workflow that best suits the business and follow the steps for creating each of the transaction.
To know more about accounts payable workflows in QuickBooks desktop, make sure that you go through this post till the end. Or else you can also contact to our professionals team at anytime. Our experts will ensure to come up with the best possible support services immediately.
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Accounts Payable workflows in QuickBooks Desktop
There are 2 Accounts Payable workflows available in QuickBooks Desktop.
Workflow 1: Paying bills that have a purchase order
The user can use this workflow, in case the business tracks the goods and services that are ordered. Also, note that the purchase orders are only available in QuickBooks desktop pro, premier and enterprise. Below are the steps pay bills that have a purchase order. Let us have a look:
Step 1: The very first step is to create a purchase order
- In case the user hasn’t already, they should turn on the purchase order.
- The first step here is to move to the Vendors and then click on Create and purchase orders option.
- After that select the Vendor for which you would like to create the purchase orders and move inside the vendor drop-down menu.
- The user should then click on Add new option to add a new vendor.
- And then fill out the fields left, and manually add the items you are willing to order.
- To finish the process, hit a click on the Save and Close option.
Step 2: And then, the user would receive the inventory
Inventory can be received with or without in QuickBooks desktop. The user is eligible to receive inventory with or without a bill after you record a purchase order. Either the user is working for with or without a bill in QuickBooks desktop for Windows and Mac, then you would have to follow the separate steps in case you want to successfully receive the inventory.
Step 3: Also, the user should enter the bills against the inventory
- The user needs to from the home page click on the Enter bills against inventory.
- The user should then perform the steps below on the select item receive window:
- At first the user should pick the Correct vendor name from the vendor drop down menu.
- And then select the Use item receipt date for the bill date checkbox, if you are willing to keep the original inventory availability date.
- Also, hit a click on the Item receipt corresponding to the bill.
- The user should now click on OK tab and all the items receipts are converted into a bill through QuickBooks.
Step 4: The last step is to pay your bills
- In the very first step, the user need to go to the Vendors menu and then choose Pay Bills option.
- After that choose the Correct accounts payable account from the dropdown list.
- Once done, the user should choose the Checkboxes of the bills he/she want to pay from the table.
- Now the user need to set any Discount or Credit that he/she want to apply on the bills.
- Discount – The user need to choose it, if the vendor gave you a discount for this transaction.
- Credit – The user need to select this, if he/she received a credit from the vendor side.
- In the next step the user need to enter the Date when he/she paid the bill.
- And then choose the Payment method in:
- Check
- Credit Card
- Online Bill Payment
- Online Bank Payment
- Cash, Debit or ATM card, Paypal, or EFT
- Later head towards choose Pay Selected Bill option.
- Followed by, click on Done, or choose Pay More Bills option if the user have other bills to pay.
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Workflow 2: Paying bills that don’t have a purchase order
The user can make use of this workflow, in case the business doesn’t track the goods and services that are ordered. The steps below can be followed for paying bills that don’t have a purchase order.
Step 1: The user needs to first enter the bills
- Herein, the user should click on the Enter bills on the home page.
- And then pick the Vendor
- Also, select the Date.
- The user should also select the appropriate tab from:
- Expense
- Items
- After that select the Expense account or the Item.
- And manually Enter the amount.
- Select the Customer job and also put a checkmark in the billable column, in case you wish to track billable expenses.
- The last step is to click on Save and close option to end it.
Step 2: And then pay the bill
In the QuickBooks accounting software, after recording what you owe, you can easily use pay bills to settle the payables for multiple vendors. The user is eligible to apply corresponding discounts and credits for every payment that is made. The user can make your payments through the cash, debit card, or ATM card, paypal, EFL, direct deposit, credit card, and online bank payment.
Winding Up!
Performing the steps above might be of some help in getting the best knowledge of accounts payable workflows in QuickBooks desktop. However, for some reason if the user is unable to set up accounts payable, then contacting our experts right away is suggested. Give us a call at 1-800-761-1787, and let our QuickBooks support team perform the required steps for you.
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