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brask575
February 9, 2023
Question

Vendor Pre-Payments

  • February 9, 2023
  • 1 reply
  • 0 views

I often have to pre-pay vendors for by credit card prior to receiving the product or invoices.

How do I record the pre-payment when the payment is by credit card not a bank account?

1 reply

A
Amanda-B
February 9, 2023

Hey there brask575,

 

Thanks for reaching out to us here. Making sure you're recording your transactions properly is an essential step for maintaining clean books. I would be happy to point you in the right direction.

 

To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on creating these types of transactions. They'll be able to guide you in choosing the correct transaction type as well as which accounts to affect so that your accounts can end up with the right balance. You can add your accountant to your books by going to the My Accountant tab of your QuickBooks account. You can also find an accountant that has experience using QuickBooks near you by clicking on the Find a pro to help option in that section.

 

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

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