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Pumkin1999
August 19, 2021
Question

How to mark bill paid when payment was made a long time ago

  • August 19, 2021
  • 1 reply
  • 0 views

QBO question...

I am working for a company that is cleaning up some intercompany transactions. Company A paid Company B via transfer. Company A has their bank linked, the transfers were coded to A/P and the bank has been reconciled. Company B sent Company A invoices. Company A has recorded the bills. How does Company A match the payments to the bills?

 

Thanks!

1 reply

Rose-A
Rose-A
August 20, 2021

Hey there, Pumkin1999. I'm here to ensure your bill gets paid.

 

To ensure your bill will be marked as paid, you can use the Pay Bills feature in QuickBooks Online. Here's how:

 

  1. Click + New in the left panel.
  2. Under Vendors, choose Pay bills.
  3. Select the bill and hit Save.

 

The following article will provide you ways and steps on how to record bill payments in QuickBooks Online: Enter bills and record bill payments in QuickBooks Online.

 

Additionally, you can visit the following write-up: Expenses and vendors. This will provide you links on how to manage your company expenses as well as other vendor transactions.

 

I'm always here should you have any follow-up questions or concerns. Wishing you and your business continued success!

P
Pumkin1999Author
August 20, 2021

The transfer that paid the bill has already been recorded via the bank feed. I was coded to A/P. And on most of them, multiple transfers paid one bill.

LieraMarie_A
LieraMarie_A
August 20, 2021

Hi there, @Pumkin1999. I'm here to share additional information about applying available credits.

 

When categorizing money out transactions to Accounts Payable, QuickBooks will recognize this as an available credit. To apply it to the open bills, you can use the Pay Bills feature. You'll have to link them with a "zero dollar" payment. Not to worry, this won't affect your reconciliation.

 

  1. Click + New.
  2. Under Vendors, choose Pay bills.
  3. Select the bills. Review the applied credits. Make sure the total payment amount is zero.
  4. Click Save and close.

 

For additional reference, you can check these articles for more insights about handling vendor credits:

 

Once done, you can always reconcile your account to make sure they match your bank statement.

 

The Community will have your back for any questions that you may have in the future. Don't hesitate to let us know. Have a great day,

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