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September 19, 2024
Question

Third party vendor payment

  • September 19, 2024
  • 1 reply
  • 0 views

I am a sub contractor and some of our larger jobs, the general contractor pays our vendor directly, how do I record that in quickbooks desktop?

1 reply

Candice C
September 19, 2024

Good evening, @djohnson8993

 

Welcome to the Community! 

 

To record third-party vendor payments in QuickBooks Desktop, use the steps below: 
 

  1. Create a customer account for the third-party company.
  2. Create a clearing account.
  3. Create a payment entry under the company's profile.
  4. Create a journal entry to move the funds.
  5. Close out the payment entry by linking the journal entry together.
  6. Open the customer's invoice.
     

You can also record a vendor credit in QuickBooks Desktop by:

 

  1. Going to the Vendors menu.
  2. Selecting Enter Bills.
  3. Selecting the Credit radio button.
  4. Entering the vendor name.
  5. Selecting the Items tab.
  6. Entering the returned items with the same amounts as the refund check.
  7. Selecting Save & Close.

 

If you have any other questions, don't hesitate to ask. Have a wonderful day!