This tip was inspired by those of you who’ve reached out asking “What’s the proper way to enter a bill and pay it in QuickBooks?”.
I created a video to share how I recommend entering bills and how to decide if this is a feature you should even be using in QuickBooks since it’s a two-step process. Remember… don’t waste time on features you don’t need to be using. 😉
I also included how to properly pay bills with your credit card in QuickBooks.
Are you ready to learn how to enter and pay bills in QuickBooks Online?
Steps To Enter a Bill in QuickBooks Online:
- Access the “Enter Bills” feature by clicking on the plus (+) sign at the top of the screen and selecting “Bill.”
- Choose the vendor you received the bill from. Make sure to select the vendor, not a customer, if they have the same name.
- Enter the vendor’s information, such as address and payment terms.
- Specify the bill details, including the bill date and due date based on the payment terms.
- Enter the bill number and any tax information if applicable.
- Select the appropriate expense category or cost of goods category for the bill.
- Enter the amount of the bill and add a description if necessary.
- Optionally, you can make the bill billable if you plan to invoice a customer for it.
- Add a memo or attachment if needed.
- Review the bill details and click “Save and close” to save the bill.
To Pay a Bill in QuickBooks Online (using a Credit Card):
- Access the “Pay Bills” feature by clicking on the plus (+) sign at the top of the screen and selecting “Pay Bills.”
- Choose the date you want to pay the bill and select the credit card account you want to use for payment.
- Select the vendor (Cal Telephone) and enter the reference or bill number.
- Enter the amount you want to pay (either in full or in installments).
- Review the payment details, including the current balance on the credit card.
- Click “Save” to process the payment.
Note: It’s important to use the “Bill Payment” feature when paying bills entered in QuickBooks, rather than duplicating payments through other means like writing checks.
Remember, entering bills is optional and mainly used for accrual-based businesses or for better tracking of future expenses. Cash-based businesses may opt for alternative methods like bank feeds or directly entering expenses.
Need to learn more areas of QuickBooks? Join us on our next workshop to learn how to design QuickBooks for your specific business… CandusKampfer.com/training
Share with us in the comments below – Are you going to use the “Bill” feature in QuickBooks? 💁🏻♀️