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AlarmCompany
AlarmCompany
June 26, 2024
Question

Using credit card for expenses

  • June 26, 2024
  • 1 reply
  • 0 views

I used the Company credit card to purchase supplies then immediately transferred the payment from checking to the credit card to pay it off (wanted those points/cash). However, when I go to reconcile the bank statement shows I paid the credit card company, obviously, instead of the supplier. I enter invoices from suppliers with details to track expenses so I need to show that specific invoice was paid. I know there's got to be a simple way to make this work but I just can't figure it out.  Those invoices are showing open still since the payment went to the credit card company and not the supplier. How do I fix this?

1 reply

A
AileneA
June 26, 2024

Hello, AlarmCompany. Let's verify if the payment (bill) was applied to the correct bill.

 

First, let's verify if the payment method used for the supplier's bill was applied to the correct bill. If it turns out that the payment was incorrectly applied, I suggest voiding the payment to rectify the situation. Then make sure that you're paying the correct bill so the transaction will marked as close.  
 

In order to apply the payment made using a credit card to the correct bill (supplier invoice), please follow these steps:

 

  1. Log in to your QuickBooks Online (QBO) account.
  2. Go to the Expenses tab on the left-hand menu and select Vendors.
  3. Locate the vendors you paid for and click on their names.
  4. Look for the bill (supplier invoice) that matches your payment using your credit card, and click on it to open the transaction details.
  5. In the bill details, you should see an option to Make Payment. 
  6. A new window will appear where you can select the payment you made using your credit card. Choose the correct payment from the list.
  7. Verify that the payment amount matches the bill amount. If it does, click Save and Close to apply for the payment.
  8. Once the payment is successfully applied, the bill will be marked as paid.

 

If you want to learn more about paying your vendor bills directly from your QuickBooks Online account, check out this article, which includes a video tutorial: Enter and manage bills and bill payments in QuickBooks Online.

 

If you have further concerns or need more information, please comment below so we can assist you. 

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