how to register and pay a vendor through a collection agency?

Hello again AliQuint,

I know precision is key in recording your transactions in QuickBooks Desktop, so I appreciate you reaching out for assistance on this one. It's good to hear that you've got the bill side of the equation logged in your vendor transactions, and I'll make sure you have the steps to take for recording the settlement as well.

QuickBooks Desktop has a number of ways to enter various kinds of transactions. Some are more straightforward than others as they're the usual kind of funds received versus funds paid sort of situations. With your scenario, it sounds like things might be slightly more complex. Although you've mentioned recording the bill for Fido already, your initial question notes that you're trying to pay a vendor through a collection agency. There isn't a built-in feature for this kind of transference of funds, so it may take some accounting knowledge to make sure that you're recording the payment to the collection agency while also reducing the balance of the Fido vendor balance and recording the settlement.

If you're simply hoping to know record the settlement from the collection agency, recording it as a bank deposit or a journal entry may do the trick. Again, there isn't a feature designed specifically for this, so having accounting advice will be a great asset here to make sure you're meeting the recording needs of your books.

I see you've gotten help from others in Community in the past, and someone may comment again to direct you, so keep an eye out for that. In addition to that, I'd like to point you to our Find an Accountant page where you can search the QuickBooks database of accountants certified in the program. This will help you connect with someone you can rely on when you need a hand with your books.

Wishing you the best with this. Don't hesitate to stop by Community again!