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L
lisa-2i-t-com
November 19, 2024
Question

Vendor Payment/ Credit

  • November 19, 2024
  • 1 reply
  • 0 views

I have previously linked a vendor credit to a bill because it needed to be applied to a requested project. I then had a payment post that was short that vendor credit - but all bills for that vendor are now paid. How do I correctly post that the rest of the invoices for that vendor are paid with that check that was shorted the credit & resolve the difference in QB since the credit was already used? Thx!

1 reply

K
KimberlyS
November 19, 2024

You can use the Pay Bills feature to pay off the remaining balance, Lisa. I’ll gladly provide the detailed steps to help you through the process.

 

In QuickBooks Online, a bill will be partially paid if the vendor credit applied is less than its total amount. If you haven't entered a payment yet for the remaining balance, proceed to these steps:

 

  1. Click the +New button, then Pay bills.
  2. Select the bill from the list.
  3. Choose Save and close.

 

If you've recorded a payment using a check, you'll want to link the check to the bill instead. With this, ensure the expense account used in the check is Accounts Payable.

 

Here's how:

 

  1. Open the payment check.
  2. Review the Category column and ensure you choose Accounts Payable.
  3. Review other details from the remaining field, then hit Save and close.
  4. Click the +New button and pick Pay bills.
  5. Select the bill from the list. The payment check will populate the Credit Applied column.
  6. Hit Save and close.

 

Moreover, you can generate the Expenses by Vendor Summary and customize it to see all the payments made to your vendors, which gives you valuable insight into managing your business finances.

 

Please keep us updated if you have additional queries regarding managing and paying bills in QuickBooks Online. We're always equipped with the information and materials you need.

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