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VRW013
April 18, 2023
Question

How to assign different vendors to split payments?

  • April 18, 2023
  • 1 reply
  • 0 views

(QB Desktop Pro Plus 2023)

Currently we use our business credit card to pay several individual vendors during the month, at the end of the month I make one payment for the total of the CC bill. I then split the payment amounts within the individual expense accounts when the CC payment is logged.

I'm trying to find a way to assign these split payments to the individual vendors?

I am going to use propane as an example. Say the CC bill total for gas expense account is $1000,  paid to two different vendors ($250 and $750). Is there a way I can to assign the 2 amounts to the different vendors within the same expense accounts using this method?

I would like to be able to run reports for each vendor that show payments made to them during the year, any suggestions?

Apologies if this is not concise I'm fairly new to this and still learning...

1 reply

BigRedConsulting
BigRedConsulting
April 19, 2023

Instead of what you're doing, if you track your Credit Card transactions in a proper Credit Card account, then you won't have difficulties like this, and many others mentioned here as a result of not using a Credit Card type account.  A CC account functions just like a bank account, but is a type of liability instead of a type of asset.

 

To track a credit card account properly, set up a Credit Card type account on your chart of accounts. If you pay off your bill each month, then you don't need an opening balance. In this case, start with a 0.00 balance and enter all of the transactions in your new CC register since the last statement.

 

Once you do this, you can either enter your vendor payments as credit card charges, or you can actually pay your A/P bills using the credit card account using the Pay Bills feature, much as you might pay a bill using a check.

V
VRW013Author
April 20, 2023

Thank you!

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