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SallyF69
August 22, 2021
Question

How to Account for payments made direct to our supplier

  • August 22, 2021
  • 1 reply
  • 0 views

We are a registered cat rescue charity and have a current account, and a paypal account. We receive invoices from our vets monthly but we have people who make a direct payment on our account to the vets. This obviously reduces the amount we have to pay but we still need to account for the money which has in effect come in to the charity albeit it hasnt come in on the bank account or paypal. 

 

I am a complete newbie to quick books an really not sure the best way to account for this.

 

Please help! 

1 reply

KlentB
KlentB
August 22, 2021

I'll help you in handling that, SallyF69.

 

You can enter the direct payments as a supplier credit since they didn't come to your bank account. Then, apply it to the bill to reduce your total balance. Here's how to create a supplier credit:

 

  1. Click the + New button.
  2. Select Supplier credit.
  3. From the Supplier drop-down menu, select your supplier.
  4. Enter the products or services that were paid for by your people.
  5. Click Save and close.

Once done, follow these steps to apply the credit to your open bill:

 

  1. Click the + New button.
  2. Choose Pay bills.
  3. Select a bill for your supplier from the list. You'll see the available credit with this supplier in the Credit Applied field.
  4. Complete the rest of the fields like you normally do.

In addition, here's an article that you can browse to help track the money you've paid to your suppliers for a certain date range: Run a report with supplier totals.

 

If there's anything else that I can help you with, please don't hesitate to leave a reply below. We're open here 24/7 and always ready to assist. 

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