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R
Raique
December 7, 2022
Question

Recording payment to a supplier without invoice

  • December 7, 2022
  • 1 reply
  • 0 views

Hi Everyone, 

 

How can I post a payment to a supplier account when I haven't received the invoice from the supplier yet, but the payment has already been processed? For example, I import the bank statement which has a payment to Supplier XYZ, but my client hasn't sent me the invoice for this payment yet, it will follow later in the month. I just wanted to post that payment to the supplier's account (Dr. Creditors/Cr. Bank), and later in the month, I will post the invoice, which will affect my P&L and bring the creditor's account to Nill (Dr. Expenses/Cr. Creditors)? I know we can post the payment as an "Expense" or "Cheque", but that would post the transaction to my VAT Return Report as well, which I don't want to. I need the invoice to be on the VAT Return Report, no the payment.

 

Thanks 😄

1 reply

C
ChristineJoieR
December 7, 2022

Welcome to the Community, @Raique.

 

I understand that this is a tricky time for you. Rest assured that I'll find a solution. I'll share details about how to record supplier credit in QuickBooks Online.

 

When you receive advance payment from a supplier, and the invoice isn't yet available, we can track it as supplier credit.

 

Here's how:

 

  1. Select + New.
  2. Select Supplier Credit.
  3. In the Supplier field, select the appropriate supplier name.
  4. Enter the Date, Amount, and Account (the account used here is typically the original expense account on the original bill).
  5. Select Save and close.

 

I'm adding this article for more information on how to apply for supplier credit: Handle supplier credits and refunds in QuickBooks Online.

 

If you need assistance, please come back to this thread. 

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