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C
CDAF
March 9, 2022
Question

Bill recorded lower than the one received after the fiscal year

  • March 9, 2022
  • 1 reply
  • 0 views

Hello,

 I’m concerned about how to record an incurred bill before the end of the fiscal year (31 march) for the service received. The vendor send me the bill (estimate) and said that the amount could change depending on the participants. So, my question is : how do I adjust this bill for the next fiscal year ? For ex : let’s say, I recorded a bill with $1000 in march, then I received the vendor bill $900 in April. So what will happen to the remaining $100?

 

Thanks  

1 reply

N
Nick K
March 9, 2022

Hi CDAF.

 

Correctly entering and editing your bills is the key to keeping your accounts correct. I'd be happy to help point you in the right direction to get your bill corrected.

 

There are many ways you can correct a bill in QuickBooks Online. To list a few ways to make this correction you can edit the bill in question to show the correct balance, delete and enter it again or you can just do a refund for the difference. To find out which way would work best for your needs I recommend reaching out to your accountant as they are trained in how to do this. If you don't have an accountant no worries, we can help. You can go to My Accountant>Find a pro to help to find one in your area.

 

If you have any questions let us know and we'd be happy to help.

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