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psellick8
May 16, 2022
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How do you match multiple expenses transactions to one expense (purchase)?

  • May 16, 2022
  • 1 reply
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For example, I bought a tool, but paid for it over 3 months. Is there a way to link the 3 separate monthly payments to what would be one purchase / item (Expense)
    Best answer by emmam6

    Hello Community Users, We just wanted to add some clarification on this post incase the question was not interpreted correctly and it was multiple payments out you wanted to match in banking and not as the post above answered relating to purchase orders.

    In the case you have a purchase which you are paying over 3 months you would need to create a bill rather than an expense most likely as with an expense you are saying it has already been fully paid.

    If you are using a purchase order you can convert it to a bill if not you can create a new bill within the supplier or by clicking on the +new in the top left hand side. Then you can pay off the amount paid for month 1 under make payment and match that, which will leave you to then pay off the next payment(under the make payment on the biil itself each time) If you are matching in the banking section when the last payment is paid out it will find the match within the banking page as that will be the remainder left on the bill . Any questions just ask.

    1 reply

    J
    JamaicaA
    May 16, 2022

    Thanks for posting your question here in the Community, @psellick8. I'm here to ensure you're able to combine the multiple transactions in an expense transaction.

     

    Based on the description of your concern above, it seems that you're referring to your partial payments. If so, yes, you can link the three (3) payments to a single purchased order. 

     

    Here’s how:

     

    1. Select + New.
    2. Choose between Expenses or Bills. 
    3. Select the supplier from the Payee ▼ dropdown. This displays their open purchase orders.
    4. Select Add for the correct purchase order. This adds the items from the purchase order. They appear in the Item details section.
    5. Adjust the quantity or amount for each line item to reflect the portion you received or plan to pay for.
    6. Select Save and close.

     

    Please know that you can also record the tool as a bill and add the purchase order as a line item. From there, you can add your partial payment.

     

    When all the transactions with the respective amounts are added to a bill or expense, QuickBooks Online automatically closes the purchase order.

     

    I'd still recommend speaking to an Accountant. They can provide more expert advice in dealing with this concern. This way, we can ensure the correct accounts are affected.

     

    If you’ll want to delete the purchase order from the transaction, feel free to check out this article for the step-by-step process: Remove a purchase order from an expense or bill.

     

    Here are additional references that might be helpful for future use when managing expenses and reconciling them:

     

     

    Please know that I'm just a reply away if you need any further assistance managing your expenses in QuickBooks. Wishing you and your business continued success.

    E
    emmam6Answer
    October 18, 2022

    Hello Community Users, We just wanted to add some clarification on this post incase the question was not interpreted correctly and it was multiple payments out you wanted to match in banking and not as the post above answered relating to purchase orders.

    In the case you have a purchase which you are paying over 3 months you would need to create a bill rather than an expense most likely as with an expense you are saying it has already been fully paid.

    If you are using a purchase order you can convert it to a bill if not you can create a new bill within the supplier or by clicking on the +new in the top left hand side. Then you can pay off the amount paid for month 1 under make payment and match that, which will leave you to then pay off the next payment(under the make payment on the biil itself each time) If you are matching in the banking section when the last payment is paid out it will find the match within the banking page as that will be the remainder left on the bill . Any questions just ask.

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