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hclytn13
May 28, 2021
Question

Received Bills from a Closed Period

  • May 28, 2021
  • 1 reply
  • 0 views

Hello,

 

Today I received 2 bills from a vendor from 2020 that we had not received prior. I've closed and locked 2020 and do not want to disrupt the financials for the year. How do I record these bills? Do I use the date I received them (May 28, 2021)? 

 

Thank you! 

1 reply

A
Alex M
May 28, 2021

Hi there hclytn13,

 

Making sure that your bills are entered correctly is important for any business owner. QuickBooks Online is a great tool to help you keep track of bills and amounts to be paid to your supplier to make sure you're making those payments on time. I can point you in the right direction for assistance in entering those bills.

 

Since these are bills that affect the previous year, I recommend reaching out to an accountant. Their accounting knowledge as well as their understanding of best business practices will be able to guide you on how you should be accounting for these bills of a prior year in your books. If you'd like to add your accountant as a user on your QuickBooks account in order to give them access to your books, you can do so by entering their contact info in the My accountant tab. If you'd like to find an accountant near you with experience with QuickBooks, you can click on the Find a pro to help option.

 

If you have any other questions, feel free to reach out here.

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