Skip to main content
R
rbutz
November 14, 2024
Question

Bills to match check in bank feed

  • November 14, 2024
  • 1 reply
  • 0 views

Bills are entered into QuickBooks Online when received and a check is written to the vendor. Once the check clears the bank I have the option to match the bill to said check, but it does not show up in the profit and loss report under the correct expense account when I click match. It instead post to account payable. How can I get this to match the bill but also correctly post to the expense account. Thanks.

1 reply

E
Erika_K
November 14, 2024

It's nice to welcome a new Community member, rbutz. I’d like to clarify why the bill is only posted to the Accounts Payable account and implement a fix to ensure it's posted to the correct expense account. This adjustment will enable you to accurately match it with the corresponding check. Let’s explore this in detail. 

 

Before proceeding, can you confirm whether the bill entered in the software includes expense category details? If it does, it should appear in your Profit and Loss report. However, if the bill consists solely of itemized entries without an associated expense category, it will not be reflected in the Profit and Loss report and will only be classified under Accounts Payable (A/P).

 

To ensure we're aligned, I'll include a screenshot for your reference.



If the bill indeed consists of the itemized entries, you'll need to assign a specific expense account from the Purchasing section of the associated items instead. This way, the bill will be posted to the expense account in the Profit and Loss report. 


Once everything is in place and the payment has cleared the bank, you can easily match the bill to the associated check. Also, vendor-related transactions will be linked to the Accounts Payable account, as these transactions represent amounts you owe.

 

I'll add a few articles you can refer to learn more about handling your downloaded bank transactions: 

 

 

You can always count on me for any additional concerns about managing your vendor transactions and organizing them effectively. Just hit the Reply button, and I will respond to your inquiries promptly.

R
rbutzAuthor
November 15, 2024

Hello! Yes the bills only include itemized transactions. So how can I make it show on the profit and loss as we want to see the expense of the bill? I don’t want to lose the itemized transactions though as we track inventory.

JaeAnnC
JaeAnnC
November 15, 2024

I've got a way to ensure the expense account of a bill appears in the Profit and Loss report in QuickBooks Online (QBO), @rbutz.

 

Instead of entering the expense account directly in the Category section of the bill, you can assign it to the items themselves. This will allow the expense account to appear correctly in the Profit and Loss report.

 

Here's how:

 

  1. Go to the Gear icon and select Products and Services.
  2. Locate the item name and click Edit under the Action column.
  3. Scroll down to the Purchasing Information section and select the appropriate Expense Account.
  4. Click Save and Close.
     

     

Once done, run the Profit and Loss report and locate the expense account you assigned to your items. Then, click the amount to view its associated transactions.

 

 

Furthermore, you can organize your items into categories to gain more insights into your sales and inventory when generating reports in QBO.

 

Additionally, you'll want to consider QuickBooks Live Assisted for hands-on support when managing bills and customizing reports.

 

Please know the Community team is always available around the clock to ensure smooth sailing with your financial and inventory reports. Just reach out to us, and we'll be quick to respond. Take care!

Terms & ConditionsAccessibility statement