Solved

Owner paid bill for company

1 reply
0 views

Here's the problem: Quickbook Desktop

The owner paid a bill on the company's behalf. I recorded this by creating a journal entry I Debit the expense account and credit the equity account. How do I link bills to this entry so that bills are shown as paid?

QuickBooks Desktop

BigRedConsultingAnswer

RE: Debit the expense account and credit the equity account....How do I link bills to this entry so that bills are shown as paid?

The expense is already represented on the bill. Change the Journal to use the AP account, not the expense account. Then use the Pay Bills feature to apply the credit the Journal will create to the Bill.

BigRedConsultingAnswer

RE: Debit the expense account and credit the equity account....How do I link bills to this entry so that bills are shown as paid?

The expense is already represented on the bill. Change the Journal to use the AP account, not the expense account. Then use the Pay Bills feature to apply the credit the Journal will create to the Bill.

Sign up

Login with SSO

Login to the community

Login with SSO