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Vinyl_records
June 4, 2024
Question

Void a Bill and its payments in a closed month QB Desktop

  • June 4, 2024
  • 1 reply
  • 0 views

Good Morning All;

I have a Bill from a vendor that I need to void and apply its payments to a currently open bill. However, the bill is posted on a closed month. I understand I can issue a JE for the bill, but I am unsure how to apply the payments to the open invoice. 

I apologize in advance for the lack of knowledge. I am learning accounting and want to have good accounting habits.

 

Thank you very much in advance for any assistance 🙂

1 reply

J
JorgetteG
June 4, 2024

Thank you for reaching out to the Community for assistance, Vinyl_records.  Allow me to elaborate or clarify things out so you can get back to working order.

 

When a bill is voided in QuickBooks, the amount changes to zero but the transaction is still recorded. This won't impact your account balances or reports. The original payment will become an open payment again and can be used for a new or updated bill. 

 

To apply this payment to the new bill, follow these steps: 

 

  1. Click Vendors on the top menu. 
  2. Select Vendor Center.  
  3. Choose the vendor from whom the bill originated. 
  4. Open the bill payment by double-clicking on it.
  5. Check the box next to the bill to which you want to apply the open payment in the "Bills paid in this transaction" section.
  6. Save and Close.

 

Furthermore, here are some insightful articles that will help with maintaining organized books:

 

 

You can always add to this thread if you have additional concerns or need clarification managing your vendor bills. I'm available 24/7 to help you out.

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