Track Upcoming Bills In QuickBooks Bill Tracker

Tracking Bills in QuickBooks, Worth the time and effort

Close to payroll, paying bills is probably your least favorite task in business.  However, QuickBooks makes it a heck of less complicated featuring its Bill Pay feature! You don’t have to make use of this particular feature – you can easily Track Upcoming Bills In QuickBooks Bill Trackers crawling the payment dates on a paper calendar, and utilising the Write Checks feature, however the automated bill process is likely to make your daily life much easier.

If you’re using QuickBooks, you’ll want to start taking advantageous asset of the numerous tools that QuickBooks offers to track your accounts payable, such as the capacity to:

 Enter bills while they can be found in and track until they’re paid

Set reminders for bills due

Pay bills easily by check or charge card

Locate a bill or payment quickly

Enter bills as (or after) you get items

Link bills to get orders

Have immediate access to a bill’s status

Entering the bill without items: 

When a cost bill comes in (from a computer program company, as an example), click on the Enter Bills icon on the home page, or Vendors | Enter Bills. A window such as the one displayed below opens. Choose the vendor and fill in the blanks. Be sure that the Expenses tab below is selected plus the appropriate account number and amount fields are completed.

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Note: Dealing with incoming inventory can be a bit more complex.  Setting up inventory items and their mapping is the most crucial section of tracking inventory. Consult with us just before plan to use the inventory tracking feature.

Receiving the bill with items:  Click Vendors | Receive Items and Enter Bill. Once you find the vendor from the list, this box opens (for those who have sent a purchase order):

Figure 2: QuickBooks is letting you know that you have open orders with this specific vendor.

Click Yes. The Open Purchase Orders box opens, containing a listing of open POs. Select the one(s) you want and click OK. The Enter Bill form opens automatically, containing the information of this purchase order. Change quantities if they don’t match the shipment and edit other fields as necessary. Save the balance.

If it’s a bill for a product that already has a related Item Receipt (that is, the shipment preceded the balance), QuickBooks tells you to use Vendor | Enter Bill for Received Items. Follow the prompts.

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Creating the payments for the bills: 

It’s good to create reminders for bills. Head to Edit | Preferences and click Reminders. Ensure that that Show Reminders List box is checked, then click Company Preferences. Discover the Bills to pay for row and enter how much advance notice that you’d like. Indicate whether you want to see a listing or a synopsis, then click OK.

When bills are due, click the Pay Bills icon or select Vendors | Pay Bills. A window opens displaying all outstanding bills. You are able to pare this down by selecting a night out together when you look at the Due on or before field and/or Filter by vendors.  The screen can look similar to this:

Select Bills

Figure 3: it is simple to choose the bills you intend to pay.

Enter a check mark beside the bills you’re paying into the little box regarding the left, and if you're not paying the entire amount, replace the amount when you look at the Amt.To Pay field at the conclusion of the row. In the bottom of the screen, you can easily set the payment date and type, use any discounts or credits, and also make sure the most suitable payment account is selected. You can easily pay with credit cards or checks. When you’re done, click Pay Selected Bills.

Tip: You can have credits and discounts automatically applied by visiting Edit | Preferences | Bills and selecting your desired choice.  Some people like this feature dependent on their internal systems.

After You’ve Paid

There are certain places where your bills come in QuickBooks, including:

 The Unpaid Bills Detail report

 The A/P Aging Detail report

  The Seller Center

   QuickReports

   Within the Recent Transactions pane of some forms

  In the bills themselves

Pay BillsFigure 4: QuickBooks displays the Paid status of bills.

QuickBooks also enables you to void and delete bills, and copy and memorize them. Talk to us before voiding and deleting, as they changes can cause some complications in your financial statements. Be very careful about deleting bills produced in prior years.

The payoff for tracking bills is access immediately to your accounts payable status, better relations with vendors, and a more insightful accounting of the company’s cash flow.  You may absolutely love utilizing the Enter Bills | Pay Bills feature!