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hclytn13
May 13, 2021
Question

Paying Bills in Closed Periods

  • May 13, 2021
  • 1 reply
  • 0 views

Our landlord is terrible at providing accurate bills for utilities and rent and doesn't follow up on payments. As such, we have unpaid bills from 2019 and 2020 (both of which are closed years). We just paid it all in full but there will be a few changes to the bills. How do I account for the changes to the bills without disrupting the books for the closed years? 

Further, the owner is concerned about what month to account for the differences as he doesn't want one month to look lower than it actually is. 

Thanks! 

1 reply

N
Nick K
May 13, 2021

Hi hclytn13,

 

Having your bills entered and the correct payments assigned is imperative to make sure your accounts are correct. I can help point you in the right direction on how to get this resolved.

 

QuickBooks Online makes it easy to assign payments to bills to help you save time and keep your balances accurate. In this situation I recommend reaching out to an accountant due to the bills being in years that have already been closed. This is to ensure that the payments get entered in a way that doesn't effect your accounts in the wrong way. If you don't have an accountant no worries, we have your back. In your QuickBooks Online account you can go to My Accountant>Find a pro to help to find one in your area.

 

Once the accountant lets you know what accounts to use and how to enter the corrections let us know and we'll be happy to help you with the steps to make the changes.

 

Have a great one!

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