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QuickBooks Tips Blog

Why Does QuickBooks Accounts Payable Report Still Show Paid Bills?

Posted by Richard Haralson on May 28, 2015 7:30:00 AM

You have entered a bill into QuickBooks and you wrote a check for that bill. So, why is that bill still showing in your accounts payable report? It’s an easy and common mistake to make. Sure there may be a number of ways this can happen, let me give a simple example.

You receive a bill from a vendor that is not due for a few weeks. You enter it and forget about it. A few weeks go by and the vendor sends a statement. You jump into QuickBooks and write a check to the vendor. Done.

Being the savvy owner you are, you often look at you’re A/R, A/P and P&L thus you are wondering, “Why does that bill still show in my A/P?” From the perspective of QuickBooks, you didn’t pay the bill (from pay bills); you simply wrote that vendor a check.

So, how do you fix this? You could delete the check, then go to Pay Bills and do it correctly, and adjust the check number to match the check that was mailed. But what if you found the issue after the checking account has been reconciled? Deleting the check will mess up the checking account reconciliation. Don’t do that. Here is a better way to fix this problem.

Open the check that was written. Select the account on the lower check details. Perhaps you had the check coded to an expense account (the coding could be anything, doesn’t matter). Change the coding to Accounts Payable. Next tab over to the Customer Job field and find the vendor name the check was written to. Save and close.

Last step is clearing the bill. Now go to pay bills and select the vendor bill in question that is still showing outstanding. Lower on the screen select set credits, apply the credits, click done, click save and close, then click done.

That’s it; you have now tied what QuickBooks thinks is a random check to a vendor bill and the bill we no longer show on your accounts payable report.

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Topics: QuickBooks Tips, QuickBooks advice, Accounts Payable

How To Record A Vendor Refund In QuickBooks

Posted by Richard Haralson on May 26, 2015 7:30:00 AM

At first glance you might wonder what’s so tricky about recording a vendor refund in QuickBooks. Why is this question being asked? Or, this seems simple, am I doing it right?

Let’s back up and set up a scenario. You run a service based business that pays for some supplies. One week you pay a bill to your supplier for cleaning supplies. A few weeks ago you received the bill and entered the bill in QuickBooks correctly. Last week you properly went to Pay Bills. There you paid that bill and any others that needed to be paid. If you entered a bill and then wrote a check for the bill AND the bill still shows in your Accounts Payable, go to this QuickBooks blog where I explain how to correct that.

So now your bill is paid and business goes on. Then one day you receive a check back from that vendor for any number of reasons: an unknown discount, price change, or whatever. A common mistake is to receive those funds back against the expense from the original bill; you might even go as far as labeling the deposit as being received from that vendor. And I’m sure it goes without saying that of course you noted the refund reason in the deposit memo field. But this is still incorrect, slightly. This is wrong because it does not directly tie the deposit to the vendor. Meaning you will not find this deposit in the vendor center.

So, how do you properly receive a vendor refund? Go to the deposit screen, in the received from field enter the vendor name. Then in from account field, here you put accounts payable. Memo and amount as usual then save and close. Next you need to enter a bill credit from the bills screen. After opening bills toggle it to a credit and enter the vendor name, date, amount, and memo it. In the account field, this is where you will put the expense account that off-sets the original bill. Save and close. Last step, go to pay bills and find the vendor. What you will be clearing here is the check from vendor received. Check the box, and then in the lower portion of the screen you will find set credits. There you can apply the bill credit you created and click done. Click pay selected bills, then click done.

There you have it. You have correctly received a vendor refund check. Both the incorrect and correct way will have the same impact on the expense account. However, the correct procedure will show the transaction in vendor reports.

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Topics: QuickBooks Tips, QuickBooks advice

How To Make The Most Of QuickBooks Online Banking

Posted by Alex Viau on Jan 21, 2013 6:00:00 AM

Online banking is the bread and butter to my efficiency in QuickBooks. I'm always asking myself how I can make the most of the online banking feature in QuickBooks with every client I help take care of. What really blows me away though is the amount of people that aren't even aware of this feature! You can download data for your credit cards and bank accounts in a matter of minutes. So let's get started with the 101 and work our way to the advance features rather quick...

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Topics: Efficient Bookkeeping, QuickBooks advice, Bookkeeping Tips

Video QuickBooks Tip: Using Ask My Accountant

Posted by Matt Roberge on Jan 2, 2013 7:22:00 AM

The QuickBooks account called 'Ask My Accountant' can be an extremely useful account to use.  QuickBooks started making this a default account on the chart of accounts years ago.  However, seasoned QuickBooks users started using this concept before QuickBooks introduced it.  It is a great way to not only keep all of your questions organized; it can be useful in other ways as well.  Watch the below video for more information on how and why to use the ask my accountant account in QuickBooks.  

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Topics: QuickBooks, QuickBooks Tips, QuickBooks Video Tips, QuickBooks advice

Is A QuickBooks Advisor Necessary For Your Business?

Posted by Matt Roberge on Nov 2, 2012 7:37:00 AM

Hiring a QuickBooks Advisor for you business is a big decision. There are a number of things to consider.
QuickBooks is a powerful tool that can help your business but in order to utilize the software you must know how it works. This is the starting point in deciding if you need a QuickBooks Advisor.

When making a decision about a QuickBooks Advisor you must have a good understanding of your knowledge and that of your staff. 

  • Is there more you want to be able to get out of the software?

  • Will the program do what you envision it might?

  • What about the trial and error time till you get it just the way you want it?

  • What are the costs involved in bringing in an advisor?

If you are getting everything you think you need out of QuickBooks you may not need an advisor. However, if you ever wondered if there is an easier way to get a report or if you are downloading to Excel to get all the information you need, it might be worth it to check out what an advisor can do within the QuickBooks program. It may only be a matter of setting up the program a little differently and you can have what you need without the extra work.

Your employees most likely could figure out how to get where you want to given enough time. The time lost doing this can be a huge hit to the bottom line. With an advisor the knowledge is all ready there and they can train your staff in the correct way to get what you need. Trial and error can be not only time consuming but dangerous to your data integrity.

QuickBooks Advisors are trained in all aspects of the program. They manage the changes and updates to the
package. The advisors are tested and need to pass exams that really test their knowledge of QuickBooks. You can be sure that what ever you need the program to do an advisor can make it happen if possible. 

As a business owner you know how important it is to have the best tools available for your employees. When you have an advisor come in and get the program working at the optimum level (offer a few QuickBooks Tips!) you are giving your business the best bang for its QuickBook bucks. What could a QuickBooks Advisor do for your business?  


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Topics: QuickBooks, QuickBooks Tips, QuickBooks advice, QuickBooks Basics

Video QuickBooks Tip: Downloading Transactions Into QuickBooks

Posted by Matt Roberge on Oct 24, 2012 6:55:00 AM

Downloading transactions into QuickBooks can increase the efficiency as well as the accuracy of your bookkeeping system.  By downloading your transactions into QuickBooks you will reduce data entry errors.  You can spend less time on manually entering your transactions and more time analyzing your financials.  In this QuickBooks video demonstration I will cover the basics of downloading transactions into QuickBooks. 

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Topics: QuickBooks, QuickBooks Tips, QuickBooks Video Tips, QuickBooks advice

Video QuickBooks Tip: Tracking Non-Billable Time In QuickBooks

Posted by Matt Roberge on Oct 17, 2012 8:18:00 AM

Tracking non-billable time in QuickBooks is pretty important to your business.  It is important to know where your employees are spending their time that can't be billed back to a customer.  Some business owners may argue that tracking non-billable time is a waste since all time should be considered part of the process of driving new sales.  However, by tracking it you can identify patterns and opportunities that you may be missing with your non-billable time.  Watch this video to learn more about how to track non-billable time and report on it in QuickBooks.

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Topics: QuickBooks, QuickBooks Tips, QuickBooks Video Tips, QuickBooks advice, Bookkeeping Help

Video QuickBooks Tip: Using QuickBooks Online To Manage Cash Flow

Posted by Matt Roberge on Sep 19, 2012 7:28:00 AM

QuickBooks Online can help manage cash flow by utilizing a few features, changing some settings, and accurately updating it regularly.  If you use QuickBooks Online to manage your cash flow you will not only know your current bank account balance, but you will also have a snapshot of what your bank balance looks like in the future.  Watch this video for some instructions on using QuickBooks Online to help manage your cash flow:

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Topics: QuickBooks, QuickBooks Tips, QuickBooks Video Tips, QuickBooks advice, Cash Flow Management, QuickBooks Consultant

Video QuickBooks Tip: Setting Up 1099 Contractors In QuickBooks

Posted by Matt Roberge on Aug 29, 2012 8:16:00 AM

In this QuickBooks video blog we will go over how to properly set up and track 1099 contractors in QuickBooks.  Issuing 1099's is a pretty simple task but your QuickBooks company file must be set up properly for everything to work flawlessly.  The last thing you want to do is issue incorrect information to the IRS.

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Topics: QuickBooks, QuickBooks Tips, QuickBooks Video Tips, QuickBooks advice, Bookkeeping Tips, Bookkeeping Processes, Independent Contractors

Video Blog QuickBooks Tip: Using QuickBooks Memorized Transactions

Posted by Matt Roberge on Aug 21, 2012 7:35:00 AM

In this QuickBooks video blog we will go over using memorized transactions in QuickBooks.  If you use this feature properly is can really boost your efficiency in QuickBooks.  It can also help to automate your invoicing, accounts payable and automatic payments, all of which will help you get a better handle on cash flow.

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Topics: QuickBooks, QuickBooks Tips, QuickBooks Video Tips, QuickBooks advice, QuickBooks efficiency