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jeneyajanelle
April 10, 2024
Question

Recording a bill as paid without effecting chart of accounts

  • April 10, 2024
  • 1 reply
  • 0 views

I just started a role at a company whose financials are severely messed up (duplicate and unlogged payments, everywhere!) In this specific example, there are several bills that have been entered and paid however, the payment wasn't logged in QuickBooks. These are from 2022-2024 - can I enter the payment using the "Pay Bills" screen without it affecting the chart of accounts for that specific bank or credit card account? 

 

If not, how else can I get these bills out of my AP aging and marked as paid? 

 

Thank you!! 

1 reply

S
SashaMC
April 10, 2024

Hello  jeneyajanelle

 

Thank you for reaching out to the QuickBooks Community! Since the payment wasn't recorded in QuickBooks, you'll need to enter it. But you don't need to print the checks. Let me show you how:

  1. On the Home Page, click on Write Checks.
  2. Choose the Bank Account.
  3. Enter the payee name.
  4. Fill in the necessary details.
  5. Click on Save and Close.

 

Once done, your bills will automatically be linked with the bill and marked as paid. 

 

Let me know if you have other questions. You take care always!

J
jeneyajanelleAuthor
April 10, 2024

Thank you! But won't this still have an affect on the chart of accounts? 

For example, our internet bill is paid via ACH out of our primary checking account. There's a bill already in QuickBooks, it's been paid, but it's still showing as past due because the payment was never recorded in QuickBooks. This is dating all the way back to 2023. If I record the payment now how you're saying, won't it record in the charge of accounts and affect the previous reconciliation? My worry is especially for 2024. 

R
Rea_M
April 10, 2024

We appreciate your prompt response, Jeneya. Yes, entering payment using the Pay Bills screen will impact your chart of accounts and previous reconciliation. I'll provide further information on this matter and present you with choices to ensure the accuracy of your financial data.

 

All transactions you record in QuickBooks Desktop (QBDT) will affect your chart of accounts and financial reports. If you enter expenses way back from 2022 to 2024, they'll surely affect your previous reconciliation.

 

To get your bills out of your AP aging reports and marked as paid, you can either utilize the Pay Bills screen or write off your vendor balances. But before doing so, I'd recommend consulting your accountant to help you choose the appropriate accounts and layout direction tailored to your business needs.

 

If you opt to pay the bills through the Pay Bills screen, here's how:

 

  1. Go to the Vendors menu, then select Pay Bills.
  2. Select the correct accounts payable account from the dropdown.
  3. Choose the checkboxes of the bills you want to pay from the table.
  4. Set any discount or credit that you want to apply to the bills.
  5. Enter the date you paid the bill.
  6. Select the payment method.
  7. Click Pay Selected Bills.
  8. Select Done, or select Pay More Bills if you have other bills you need to pay.

 

After that, perform a mini/special reconciliation to keep your previous year's data accurate.

 

If you want to write off your vendor balances, please see this article for the step-by-step guide: Write off customer and vendor balances.

 

Also, I've included this article if you wish to learn more about recording outstanding bills and expenses to your AP account: Accounts Payable workflows in QuickBooks Desktop.

 

I'll keep an eye on this thread for any additional queries you may have in tracking expense transactions in QBDT. Feel free to leave a reply below, and I'll be around to get you covered. Keep safe and have a good one.

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