Skip to content

Setup Accounts Payable in QuickBooks

    Accounts Payable QuickBooks

    Do you know that the setup of accounts payable is a bit easier if you do it in the flow of process? Yes, you heard it right!

    What is Accounts Payable?

    It is the outstanding bill’s record that is related to your organization. The money can be easily tracked using this that you have to pay to the vendors.

    How you can add it to your QuickBooks account?

    You have to mention this in your QuickBooks account by adding the bill to your account. This way the accounts payable added into your chart of accounts. It also has the 2 different ways of working from which you have to choose the one according to your choice.

    Process to Setup Accounts Payable in QuickBooks

    The 2 processes of adding the Accounts Payable in your QuickBooks account are as follows:-

    Total Time: 35 minutes

    Pay the bills that have a purchase order

    This process can be done when you track your ordered goods and services for your business.

    Create a purchase order

    πŸ’  Turn on the purchase order for creating it
    πŸ’  Click on the menu named Vender
    πŸ’  From options, select the Create Purchase Order
    πŸ’  To do so select the vendor
    πŸ’  If the vendor is not listed then you can also add one
    πŸ’  Enter the information required then add all the items you want to order
    πŸ’  You have to save all this and then close it so click on the Save and Close button.

    Then receive your inventory

    πŸ’  The inventories can be received with or without a bill
    πŸ’  For bill received with inventories
    πŸ’  Go t the home page and then click on the option named Receive Inventory
    πŸ’  From the following options shown to you, click on the Receive inventory with Bill

    In the window of the Enter bill, provide the name of the vendor

    πŸ’  Then click on the Yes button
    πŸ’  The PO has to choose correctly and then click the OK button
    πŸ’  Check the information on the Bill then note that everything filled has the entry on the bill except Memo field
    πŸ’  Then click on the button Save and Close
    πŸ’  In the end, click on the pay bills whenever you are ready to do so.

    For bill not received with inventories

    πŸ’  Select the option named Receive inventory
    πŸ’  Then from more options select the Receive inventory without a bill

    When the Item Receipt window opens up

    πŸ’  In this, you have to select the vendor
    πŸ’  Now Click on the Yes
    πŸ’  Then click on the PO number that is correct and click on the OK button
    πŸ’  Verify and check the Item Receipt information then must note that every this is on the Item Receipt
    πŸ’  After that click on the Save and Close option
    πŸ’  Then when the inventory bill is received go to the next step.

    Now enter the bills for inventory

    πŸ’  Click on the Enter Bills against the inventory
    πŸ’  On Item Receipt window click on the Vendor
    πŸ’  Then select the name of the vendor
    πŸ’  You have to click on the Use Item receipt date for the bill date for keeping the original date
    πŸ’  According to your bill select the Item Receipt
    πŸ’  Click on the OK and receipts changed into the bill.

    Pay your bills

    πŸ’  In the Vendors option
    πŸ’  Click on the Pay Bills
    πŸ’  Now select the bill for which you are paying
    πŸ’  After that click on the credit of discount if available and you want to apply on your bills
    πŸ’  You have to click on the Payment and Date method
    πŸ’  Click on the Pay Selected Bills
    πŸ’  Select the Done option in the end.

    Pay bills that have no purchase order

    This process is done when you don’t track your goods and services that are ordered for your business.

    Enter bills

    πŸ’  First of all click on the Enter bills
    πŸ’  Choose the Vendor and then select the date
    πŸ’  Select any one tab Expenses or Items
    πŸ’  The amount needs to be entered correctly
    πŸ’  If you track the expense that is billable then click on the customer job
    πŸ’  Also, tick mark the column of Billable
    πŸ’  Then Save and Close it.

    Pay your bill

    πŸ’  Go to the Vendor menu option
    πŸ’  Then select the Pay Bills from further options
    πŸ’  You have to select the bills that you are going to pay
    πŸ’  Apply the discount or credit on your bill by selecting it
    πŸ’  Select the Payment method and then Date method
    πŸ’  Also, select the option named Pay Selected Bills
    πŸ’  Click on the option Done.

    How you can connect withaccountingproblem.com?

    Above is the method to set up the accounts payable easily and properly. It is the best method ever to do it prescribed by the team who is available 24/7 hours.

    You can dial the toll-freeΒ QuickBooks customer helpline numberΒ , or you can also email them atΒ [email protected]Β or do aΒ QuickBooks live chatΒ with the team. The team is glad to help you by providing you the information and solutions to all your glitches.

    error: Content is protected !!
    Phone

    +1347-967-4079